Friday, May 05, 2006

Building Permits Up in March

Building permits issued in Ottawa jumped by a stronger than expected 5.3% in March.

Analysts had expected building permits to rise 2.0 % in March.

Non-residential permits surged 15.1 % after an already-strong 15.3 % climb in February.

Non-residential permits were 16.1 % higher than the average monthly rate in 2005, considered a great 2006 year for builders.

The Ottawa housing sector fell 0.1 percent in March as demand for single-family units dropped even though permits for multi-family dwellings rose for the third straight month.


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