Investment

In 2010, the total building permit value for the Central region stood at $474.7 million, making up 4.2% of the provincial total.  In 2010, the total building permit value for the Central region increased by 7% from 2009, but was 31% lower than the 2005 level.  The increase between 2009 and 2010 can be attributed to a large increase in industrial permits of 66% to $28.0 million and a 39% rise in commercial permits to $103.0 million.  Over the same period, residential permits decreased by 1% to $308.4 million, while institutional permits were lower by 10%.  Between 2005 and 2010, residential permits decreased by 26%.

The total number of dwelling units for which building permits were taken out in the Central region in 2010 was 1,521.  This was a 5% drop from the previous year and a 52% decrease from 2005 levels.  Over that five-year period, the number of multiple family dwelling units fell by 65% to 308 units in 2010.  Over the same period, the number of single dwellings decreased by 47% to 1,213 units.

In 2010, the number of urban housing starts1 (in areas with a population of at least 10,000) totaled 1,025 in the Central region2, an increase of 10% from 2009’s 928 starts.  This increase was mainly the result of a large 37% jump in the number of multiple-family units between 2009 and 2010 to 260 starts, while single detached starts rose 4% to 765. 


1 Housing start information is gathered by Canada Mortgage and Housing Commission field offices; building permit estimates are gathered by Statistics Canada from municipalities. A building permit generally precedes the actual start.
2 The Central urban region includes Red Deer, Red Deer County, Mountain View County, Clearwater County, Wetaskiwin, Wetaskiwin County, Lacombe, Lacombe County and Sylvan Lake.

Date Updated:
RDP-2441