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May 4, 2023

Three year surge in building permits ends

For the first time in three years, Ontario saw the number of residential building permits drop after reaching all-time highs during the COVID-19 pandemic, says the Municipal Property Assessment Corporation (MPAC). Last year, 108,080 building permits were issued across Ontario for new development as well as home improvement. This represents an approximate 11.6% decrease from the previous year, ending a trend of year-over-year increases and returning to 2020 levels. Residential home improvement permits decreased by more than 9% in Ontario, to around 63,000. These permits were for home improvements including renovations, additions, swimming pools, sheds, garages, and decks.

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