Home Building Booming

Home builders are hammering through the recession, building permit information for Peterborough shows, with developers getting permits to build more homes this year than for the same period last year.

From the beginning of the year to the end of July, the city issued 203 building permits for single-family homes compared to 168 for the same period last year, the city's chief building official, Bob Waldron, said.

But despite the increase in permits for single-family homes for that period, the value of those permits decreased to $20,001,700 this year from $30,655,500 last year, Waldron added.

"The overall value of construction is down but the number of housing starts has increased," he said.

The home building industry is constructing smaller homes, Peterborough and the Kawarthas Home Builders Association interim president Don Dyck said yesterday.

"If you have more housing starts with a fewer total of dollars that must mean that the housing sizes that are being produced would be smaller. That would be my guess," he said.

The home building industry in Peterborough is probably better than the Ontario average, added Dyck, who is with Kingdon TIMBr Mart.

"The building of homes in the Peterborough region is certainly better and seems to be improving more than we anticipated let's say six months ago," he said.

"We're pleased with the amount of housing starts.... We got off to a pretty slow start.... We've seen a steady escalation in the whole industry in the last two months."

The association anticipates a stronger fall for the building industry, Dyck said.

"There seems to be a strengthening of the market," he said. "We're encouraged."

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Crystal Edwards

Crystal Edwards

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CENTURY 21 United Realty Inc., Brokerage*
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