Durham’s building boom
The value of building permits in Durham Region rose to $2.06 billion in 2018, a $10 million jump from the previous year. The average cost of a new single-detached home increased 18.1 per cent from $626,256 to $739,821.
By Chris Jones/The Oshawa Express
Development in Durham had a banner year in 2018.
According to a report from the region, Durham saw an uptick in the total value of building permits and an increase in the number of permits for new residential units last year.
The region saw the value of building permits increase by five per cent from $1.96 billion in 2017 to $2.06 billion in 2018.
The value of residential building permits also increased by 7.3 per cent from $1.3 billion to $1.48 billion.
The value of non-residential building permits decreased by 0.3 per cent to $581 million last year.
The total number of permits issued for new residential units in Durham increased 5.8 per cent from 4,468 units in 2017 to 4,729 units in 2018.
This surpassed regional development estimates by more than 900.
A total of 62 per cent of new residential units in Durham were in multiple residential forms according to the report. This includes row houses and apartments.
The average cost of a new single-detached home in Durham Region was up 18.1 per cent in 2018 at $739,821 from $626,256 in 2017.
However, the average price of a resale single-detached home dropped 5.4 per cent to $593,902.
Some major non-residential construction projects in Oshawa included $26.2 million for a new self-storage and commercial building, and two new elementary schools with a combined value of nearly $21 million.
Durham stood out from the rest of the Greater Toronto Hamilton Area, where building permit values were down by 0.8 per cent to $21.8 billion in 2018.
In all, the total value of permits for the City of Oshawa were the third highest in the region at $426.9 million, placing it behind Pickering and Whitby.