My Real Estate Blog - Market Trends, Tips & Updates
Non-residential permits up 4.5%
5/14/2018 | Posted in Commercial Real Estate by Paul DeAdder | Back to Main Blog Page
The value of permits issued for non-residential structures was $3.0 billion in March, up 4.5% from February (which had posted a 6.4% decline) according to the latest report Statistics Canada.
The commercial sector gained 10% to $1.7 billion while the institutional component was down 12.7% to $647.7 million with lower intentions for hospitals affecting the nationwide trend.
For CRE it was the industrial component that saw the largest gain (11.6% to $666.5 million) with primary industry buildings including farm buildings and greenhouses leading.
The total value of residential and non-residential permits issued was up 3.1% to $8.4 billion in March, following a 2.8% decline in February.
