Toronto Building Permits Increased

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December 15, 2009

A recent report published by Statistics Canada claims that Toronto building permits in October increased quite significantly, by 42 percent, up to $1.042 billion dollars. Their value in September was $733 million dollars. In whole Canada, permits in October were up by 18 percent to $6.1 billion. Ontario obviously forms a big part of the growth at the national level – only the value of Toronto’s permits comprises one sixth of the national one.

Residential and non-residential building sectors both showed noticeable gains recently and the positive increase of building permits partly happened to those. Still, if we compare the results in the tenth month of years 2008 and 2009, building permits are down by 23 percent this year. In spite of the fact that the home sales this November more than doubled in comparison with the same time last year. Average price of a home increased too, by $60,000 to as much as $450,079.