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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 quarter (January – March) of 2018, the total value of building permits issued in Peel Region was $698.4 million.
  • Compared with the similar quarter of 2017, this represented a decline of 21.6 per cent, the first decline in the total value of building permits issued in Peel Region in a January – March quarter in five years.
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Data source – STATSCAN
  • Lower value of building permits issued reflected declines in both the residential and non-residential sub-sectors as follows:
    • Residential: $451.9 million, down 24.9 per cent; and
    • Non-residential: $246.6 million, down 14.7 per cent.
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Data source – STATSCAN
  • Of the three non-residential building permits sub-categories, two registered declines as follows:
    • Commercial: $146.6 million, down 40.0 per cent; and
    • Institutional: $11.3 million, down 22.1 per cent.
  • The total value of industrial building permits issued in January – March 2018 was $88.6 million, more than two times the $30.4 million issued in January – March 2017.

Performance by municipalities

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Data source – STATSCAN
  • In January – March 2018, the changes in the total value of building permits issued by the three local municipalities in Peel varied.
  • The sole decline was observed in the City of Brampton while increases were observed in the City of Mississauga and the Town of Caledon.
The City of Brampton
  • In the City of Brampton, the total value of building permits issued in January – March 2018 was $296.2 million.
  • This represented a decline of 55.1 per cent when compared with the similar quarter of 2017 and reflected lower values of building permits issued in both sub-sectors.
  • The total value of building permits issued in the larger residential sub-sector declined from $500.7 million in January – March 2017 to $231.2 million in January – March 2018.
  • The total value of non-residential building permits issued during the same period declined from $98.2 million to $38.1 million respectively.
City of Mississauga:
  • The City of Mississauga registered the most positive change in the total value building permits issued among to Peel’s three municipalities in January – March 2018.
  • At $384.2 million, the total value building permits issued increased by 50.3 per cent and the highest value registered in Peel.
  • Increases in both the residential (159.8 per cent to $183.7 million) and non-residential (8.4 per cent $200.5 million) sub-sectors supported the positive performance observed in the City of Mississauga.
The Town of Caledon
  • The value of building permits issued in the Town of Caledon totalled $45.0 million in January – March 2018, up 23.1 per cent when compared with that issued in January – March 2017.
  • This was the highest first quarter value of building permits issued in the Town of Caledon in three years.
  • There were increases in the values of both residential and non-residential building permits issued over the period as shown below:
    • Residential: $37.1 million, up 21.0 per cent; and
    • Non-residential: $7.9 million, up 34.0 per cent.