January 5, 2010
Residential construction starts for 2011 are predicted to be on par with the 2010 numbers. With interest rates expected to remain low throughout 2011, as well as the expected wage and employment growth, residential permit values should remain steady.
2010 ended with a five year low for building permit values with 1,125 permits for new residential single family dwellings being issued at a value of $68.5 million. However, commercial and industrial permit values showed a slight increase over 2009.
“Although 2010 showed a decrease in building permit values, it remained a busy year within the Inspections & Licensing department as we dealt with an increased number of development permits related to secondary suites and a number of garage and deck permits,” said Joyce Boon, Co-Manager of The City of Red Deer’s Inspections & Licensing department.
Monthly permit statistics will be posted on The City’s website at www.reddeer.ca/inspections.
Value of building permits |
|
|
December 2010
|
December 2009
|
January 2010 –
December 2010
|
January 2009 – December 2009
|
Permits |
Est. value |
Permits |
Est. value |
Permits |
Est. value |
Permits |
Est. value |
Red Deer |
72 |
$4,808,489 |
79 |
$6,881,639 |
1306 |
$118,924,544 |
1764 |
$140,975,996 |
Residential |
56 |
$4,008,629 |
68 |
$3,044,639 |
1125 |
$68,456,514 |
1556 |
$81,235,077 |
Commercial |
8 |
$484,600 |
9 |
$3,640,000 |
127 |
$28,407,438 |
141 |
$23,810,344 |
Industrial |
3 |
$110,000 |
1 |
$37,000 |
35 |
$9,917,600 |
40 |
$4,651,792 |
Public |
5 |
$205,260 |
1 |
$160,000 |
19 |
$12,142,992 |
27 |
$31,278,783 |
Miscellaneous |
0 |
$0 |
0 |
$0 |
0 |
$0 |
0 |
$0 |
- end -
For more information, please contact:
Joyce Boon
Inspections & Licensing department
The City of Red Deer
403-342-8190
|
