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January 5, 2010
(Red Deer, Alberta) – 2009 has been a slower year in the housing market; however, increased permit numbers in the second half of 2009 point towards a positive outlook for the housing industry in 2010. August saw the greatest increase in permit values of 62.2% from 2008 statistics.
Within the past five months, residential permits have exceeded 2008 values and over the second half of 2009 have increased by a total of approximately $13.1 million. November 2009 showed the strongest residential increase of approximately $8.7 million to 2008 permit values.
The past few months have remained comparable to 2008. In December of 2009, 82 permits were issued at a construction value of $7.1 million relative to the previous December with 93 permits issued at a value of $8.5 million.
Contributing to commercial permit values in December was a $2.75 million permit that was issued for external and internal renovations at the River Valley. This 71 unit housing and commercial complex is located downtown at 5017 49 Street.
Monthly permit statistics will be posted on The City’s website at www.reddeer.ca/inspections.
Value of building permits |
|
|
December 2009 |
December 2008 |
January 2009 –
December 2009 |
January 2008 – December 2008 |
Permits |
Est. value |
Permits |
Est. value |
Permits |
Est. value |
Permits |
Est. value |
Red Deer |
82 |
$7,147,074 |
93 |
$8,531,733 |
1767 |
$141,241,429 |
2005 |
$258,400,258 |
Residential |
71 |
$3,310,074 |
79 |
$3,234,309 |
1559 |
$81,500,510 |
1780 |
$99,225,497 |
Commercial |
9 |
$3,640,000 |
10 |
$3,883,110 |
141 |
$23,810,344 |
153 |
$43,672,455 |
Industrial |
1 |
$37,000 |
3 |
$1,349,314 |
40 |
$4,651,792 |
50 |
$14,151,445 |
Public |
1 |
$160,000 |
1 |
$65,000 |
27 |
$31,278,783 |
22 |
$101,350,861 |
Miscellaneous |
0 |
$0 |
0 |
$0 |
0 |
$0 |
0 |
$0 |
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For more information, contact:
Rachelle Trepanier
Inspections and Licensing department
The City of Red Deer
403-309-8513
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