After the first six months of 2015, Brampton was the 6th most active construction marketplace in Canada, with total construction value increasing by $816 million in the second quarter of 2015, resulting in over $1.2 billion in total construction value from January to June. This represents a year-over-year increase of close to $235 million in total construction value or 23.9 per cent.
In the second quarter, the industrial construction value increased by 377.9 per cent (over $74 million) and accounted for approximately six per cent of the total industrial value from January to June ($94 million). This increase also pushed Brampton’s national industrial ranking from 9th in first quarter to 2nd in the second quarter. This represents a year-over-year increase of 190 per cent.
Commercial construction values experienced an increase from the first quarter to the second quarter by approximately 230 per cent. Brampton’s commercial construction values accounted for 28.8 per cent of non-residential construction values. The total commercial construction value was $73 million in Q2-2015 and on par with last year during the same time period.
Institutional construction values in the second quarter increased by $87 million and brought the City’s total institutional construction value to $87.4 million. Institutional construction value accounted for 34 per cent of non-residential construction; a year-over-year increase of close to $47 million or 119 per cent.
Residential construction values in the second quarter were strong with an increase $603 million, bringing the total residential construction value to $0.95 billion. There was a total of 2,230 units issued permits from January to June, of which 55 per cent were single detached, 21 per cent were semi-detached and 24 per cent were row/townhouse. For every four new single detached in Toronto CMA, one was in Brampton.
Brampton continued to be among the top two construction markets in the Greater Toronto Area in the first half of 2015 and was among the top regions in Ontario. In the Greater Toronto Area market, Brampton ranked 2nd behind the City of Toronto in total construction, industrial construction, institutional construction and residential construction in Q2-2015. Brampton placed 3rd in non-residential construction and 5th in commercial construction.