The Leduc-Nisku EDAtorial
Leduc Blog
Regional commercial permit values trending upwards
October 21, 2016
Sandy McIntosh
The Edmonton region is out performing Alberta when it comes to development permits! According to the latest report from Statistics Canada for the month of August, 2016, Alberta municipality’s value of permits increased to $1 Billion, an increase of 1.2 per cent. If we take that data and delve a bit deeper, we see that the Greater Edmonton Region has increased to $368 Million, an increase of 2.7 per cent. 

Within the calculation of non-resident permits, it’s the commercial permits that are our shining star. The Greater Edmonton Region saw permit revenue increase to $79 Million, an increase of 28 per cent, where Alberta saw an increase to $262 Million, an increase of 21 per cent. This is good news for The Greater Edmonton Region and signals higher construction intentions in the commercial sector.

Along with this good news brings some interesting statistics in the industrial permit values for the same time period. Alberta saw a decrease in permit values to $72 Million. That is an 8.5 per cent decrease. If we delve down to the Greater Edmonton Region again, we see that the industrial permit values decreased from $62 Million to $14 Million, a decrease of 343 per cent. That is a huge decline for our region, but to put this in perspective, we are still at a higher value than we were in May of 2016.

Industrial permit values in The Greater Edmonton Region were increasing from May to July, 2016 and then decreasing greatly by August. Interestingly, in July, the industrial permit values were $5 Million higher than the commercial permit values.