Value of Building Permits Issued
Area of Focus: Thriving
Building Permits Issued in $Millions, 2011-2016
Source: Statistics Canada, Building Permits Series, 2011 - 2016.
Why is this important?
- A community that attracts investments in new homes and businesses is one that is economically sustainable.
- The number and value of building permits for residential and non-residential sectors are useful indicators of future growth in Peel.1
How is this measured?
- Statistics Canada’s monthly Building Permits Survey tracks the number and value of permits issued by Canadian municipalities for both residential and non-residential buildings, and measures the number of dwelling units demolished.2
What progress are we making?
- Changes in residential building permits have met our expectations.
- The trend in non-residential building permits has been in slight decline since 2014, and may be partially due to changes in technology and its impact on the use of commercial and employment space (e.g. online shopping and telecommuting).
- The lingering effects of the recession may have also influenced slower than expected changes as businesses utilized existing vacant space for production.
- Our current Term of Council Priority of Plan and Manage Growth includes strategizing around non-residential investment to create local jobs and fund transit infrastructure so people can work where they live.
1Statistics Canada-Building Permits Survey: http://www23.statcan.gc.ca/imdb/p2SV.pl?Function=getSurvey&SDDS=2802