Friday, April 07, 2006

Ottawa Building Permits Drop In the Residential Sector

In Ottawa, the total value of permits issued last year rose 8.1 per cent to $1.83 billion, on the strength of large institutional projects such as the new Canadian War Museum and the new Royal Ottawa Hospital. Non-residential construction rose 75 per cent, while the overall value of residential building dropped almost 25 per cent as housing starts pulled back to more normal levels.

In the local residential sector, the biggest drop was in the multiple category, where the value of permits plunged 33.5 per cent compared to 2004.


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