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Dashboard of Economic Indicators

Less positive changes were observed in some areas of Peel’s economy in 2016

Building Permits

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Data source – STATSCAN

  • In January – December 2017, building intentions in Peel, as measured by the total value of building permits issued, was approximately $2.84 billion.
  • Compared with to the similar period in 2016, this represented a decline of 18.8 per cent, or approximately $656.43 million in the total value of building permits.
  • This was a similar change to the 20.8 per cent decline in the total value of building permits issued in 2016.
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Data source – STATSCAN
  • The decrease in 2017 was a result of reductions in the larger residential sub-sector, particularly in the City of Brampton, which is currently the main growth area in Peel Region.
  • There was growth in the non-residential sub-sector but such growth was of a lesser magnitude, and occurred in the smaller of the two sub-sectors, and was therefore not enough to outweigh the decline observed in the larger residential sub-sector.
  • The changes registered in the two sub-sectors are detailed below.

Residential building permits

  • In January – December 2017, the total value of residential building permits issued in Peel was approximately $1.65 billion.
  • Compared with the same period in 2016, the total value of residential building permit issued fell by 31.4 per cent, or $754.01 million.
  • All the three municipalities in Peel contributed to the decline observed.

Non-residential building permits

  • The total value of non-residential building permits issued in Peel during the January – December period of 2017 was approximately $1.19 billion, which represented an increase of 8.9 per cent ($247.95 million) when compared to January – December 2016.
  • Of the three non-residential sub-categories, the largest sub-category (commercial) registered the sole increase and this ultimately led to the increase in the total value of non-residential building permits observed in January – December 2017.
  • The changes by sub-categories were:
    • Commercial: up 41.8 per cent to $840.63 million;
    • Industrial: down 7.0 per cent to $220.80 million; and
    • Institutional: down 51.4 per cent to $126.45 million.

Performance by municipalities

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Data source – STATSCAN
  • The decline in the total value of building permits issued in Peel Region in January – December 2017 reflected lower building permit values in all three Peel municipalities.

The Town of Caledon

  • The largest decline in building permits issued in 2017 was recorded in the Town of Caledon where the value of building permits issued fell by 29.8 per cent to a total of $179.07 million.
  • The decline in the value was in both residential and non-residential building permits.
  • The total value of the residential building permits amounted to $125.35 million, down by 24.4 per cent, while the total value of non-residential building permits registered a 40.0 per cent decrease to reach $53.72 million.

The City of Brampton

  • In terms of total value, the decline in the total value of building permits issued in the City of Brampton was the largest among Peel’s three municipalities.
  • During the period January – December 2017, the total value of building permits issued in the City of Brampton decreased by 27.2 per cent or $533.93 million to a total of $1.43 billion.
  • This was the lowest value of total building permits in the City of Brampton in three years.
  • The decline observed reflected lower building permit value in the larger residential sub-sector where the total value of building permits issued declined from $1.61 billion in January – December 2016 to $1.05 billion in January – December 2017, down by 35.1 per cent.
  • In the non-residential sub-sector, the total value of building permits issued increased by 9.0 per cent, to a total of $383.34 million.

City of Mississauga

  • The total value of building permits issued in the City of Mississauga was $1.23 billion in January – December 2017, down 3.6 per cent from $1.28 billion recorded in the same period of the previous year.
  • The value of non-residential building permits went up by $101.74 million or 15.7 per cent to a total of $750.83 million.
  • In the same period, the total value of residential building permits issued declined by 23.7 per cent (-$148.09 million) to a total of $478.06 million.
  • The decline in residential offsets the entire increase registered in the non-residential building permits (-$101.74 million) to influence the overall decline observed.
  • The decline in the residential building intention in the City of Mississauga in 2017 followed two consecutive years of growth.
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Data source – STATSCAN