Brampton was the sixth most active construction marketplace in Canada, with total construction value increasing by $358 million in the fourth quarter of 2015, resulting in over $2.7 billion in total construction value from January to December. This represents a year-over-year increase of close to $465 million in total construction value or 20.5 per cent.
In the fourth quarter, the industrial construction value increased by 13.8 per cent (over $23 million) and accounted for approximately 3.5 per cent of the total industrial value in Canada ($192 million). This increase also pushed Brampton’s national industrial ranking from 9th in the first quarter to 4th in the fourth quarter. This represents a year-over-year increase of 187 per cent.
Commercial construction values experienced an increase from the third quarter to the fourth quarter by approximately 28 per cent. Brampton’s commercial construction values accounted for 24.4 per cent of non-residential construction values. The total commercial construction value was $132 million in 2015.
Institutional construction values in the fourth quarter increased by $59 million and brought the City’s total institutional construction value to $216 million. Institutional construction value accounted for 35.6 per cent of non-residential construction, a year-over-year decrease of close to $141 million or 39.5 per cent.
Residential construction values in the fourth quarter were strong with an increase $246 million, bringing the total residential construction value to $2.2 billion. A total of 5,437 units were issued permits from January to December, of which 56 per cent were single detached, 12 per cent were semi-detached, 26 per cent were row/townhouse and six per cent were apartment units. For every four new single detached in the Greater Toronto Area (GTA) one was in Brampton.
Brampton continued to be among the top two construction markets in the GTA in 2015 and was among the top regions in Ontario. In the GTA market, Brampton ranked 2nd behind the City of Toronto in total construction, institutional construction and residential construction in 2015. Brampton placed 3rd in industrial and non-residential construction and 5th in commercial construction.