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Your Hamilton Area Real Estate 'Blog By Jeff Bonner, Sales Representative with Jag Realty Inc, Brokerage KIRH Home | JeffSellsHomes.ca
Building Permits Down in Ontario, Up in Hamilton
According to information released by Statistics Canada, municipalities issued $5.9 billion worth of building permits in August 2011, down 10.4% from July and the second consecutive monthly decline. The value of permits fell in both the residential and non-residential sectors, mainly in Ontario.Declines in the value of permits in Ontario, Quebec, Saskatchewan and Nova Scotia more than offset increases in the six other provinces. In the residential sector, the value of permits went down by 6.0% to $3.6 billion, following three consecutive monthly increases. The largest declines occurred in Ontario and Quebec, particularly in construction intentions for multiple-family dwelling permits in Ontario. Overall, Ontario saw a 22% drop in permits issued from July 2011, and was also 7.7% below August 2010. Locally, Hamilton, while still 10% below August 2010, saw significant growth with a 27% spike in permit activity from July.
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