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Dashboard of Economic Indicators

Less positive changes continued to linger in some areas in the first quarter of 2018

Building Permits

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Data source – STATSCAN

  • In the first half of this year (January – June 2018), building intention in Peel as measured by the total value of building permits issued, increased.
  • In January – June 2018, the total value of building permits issued in Peel was approximately $1.69 billion, 12.4 per cent higher than the approximately $1.51 billion recorded in January – June 2017.
  • The higher value of building permits issued reflected the positive performance of the residential sub-sector, where the total value of building permits issued increased by 36.6 per cent to $1.20 billion
  • Over the same period, less positive performance characterized the non-residential sub-sector where the total value of building permits issued declined by 21.0 per cent to reach $0.5 billion in January – June 2018.
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Data source – STATSCAN
  • Lower values of non-residential building permits reflected the net impact of mixed changes among its sub-categories as follows:
    • Commercial: $304.51 million, down 31.4 per cent;
    • Institutional: $47.25 million, down 32.7 per cent; and
    • Industrial: $147.85 million, up 25.6 per cent

Performance by municipalities

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Data source – STATSCAN
  • Out of the three municipalities in Peel, the total value of building permits issued increased in two (City of Mississauga and Town of Caledon) during the first half of 2018, while the sole decline was observed in the City of Brampton.

The City of Mississauga:

  • During the first half of 2018, the total value of building permits issued in the City of Mississauga was $1.1 billion or 66.9 per cent higher than the total of $633.3 million in building permits issued in January – June 2017.
  • At $1.1 billion, this represented the highest value of building permits registered among the three local municipalities in Peel.
  • The increase observed was solely the result of growth in the residential sub-sector, where the total value more than tripled from $222.4 million in January – June 2017 to $682.1 million in January – June 2018.
  • As a city which is almost fully built to capacity, most residential developments in the City of Mississauga tend to be in multi-residential projects, which are associated with a larger building permit value.
  • The multi-residential projects also tend to be lumpy, resulting in relatively larger changes from one period to another as observed in January – June 2018
  • The change in the non-residential sub-sector was negative, falling from $410.9 million in January – June 2017 to 374.7 million in January – June 2018.

The Town of Caledon

  • In the Town of Caledon, the value of building permits issued totalled $171.6 million in January – June 2018, up by 179.6 per cent when compared with that issued in January – June 2017.
  • Increases in the values of both residential and non-residential building permits contributed to growth as shown below:
    • Residential: up 199.5 per cent to $160.7 million; and
    • Non-residential: up 41.1 per cent to $10.9 million.

The City of Brampton

  • In 2017, the value of building permits in the City of Brampton in January – June period was $812.4 million.
  • In the similar period of 2018, the total value of building permits issued in the City of Brampton was 42.6 per cent lower at $466.3 million.
  • The decline over the two periods reflected reduced building permits values in both the residential and non-residential sectors.
  • The respective values in January – June 2018 and January – June 2017 were as follows:
    • Residential: $352.3 million, down by 41.2 per cent from $599.0 million; and
    • Non-residential: $114.0 million, down by 46.6 per cent from $213.4 million.

Building permits in Ontario and Some Regions in the GTA

  • Within the same period January – June 2018, the value of building permits issued in Ontario declined by 1.5 per cent, reflecting a decline in both residential (0.2 per cent) and non-residential (3.9 per cent).
  • In the GTA, the total value of the residential building permits went up slightly by 0.2 per cent while the total value of the non-residential building permits dropped by 7.4 per cent.
  • Similar changes in non-residential building permits were observed in three out of five Regions as shown below.
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Data source – STATSCAN