Single-family increase not making up for home permit drop-off
By Medicine Hat News on October 29, 2020.
New single-family home permits issued in Medicine Hat are outpacing last year’s figures, but overall residential spending and construction activity is tracking lower. To the end of September, 27 new home permits were issued by the city’s planning office – up 10 from the same point last year – but the attached values dropped and action on other housing types fell. The 2019 housing season was an historical low-point in new home construction in Medicine Hat, but some observers predicted worsening conditions considering economic uncertainty and pandemic restrictions. Planners attach a general construction value to residential projects based on square-footage. So far in 2020, the average figure was $271,300 (not including land cost). The similar figure for 17 home permits let in first nine months of 2019, was $408,000. Over all categories of new construction and renovation projects, the total value is only tracking half of the 2019 figure – $36.7 million compared to $76.5 million in 2019. That year a new school, commercial projects and a major expansion at Cancarb boosted the figures. This year, new residential projects, including duplexes and condos, had a total value of $10.7 million at Sept. 30, down from $13.8 million last year. Housing renovations rose by one-fifth in value to $5.8 million, though new garage permits are one-fifth lower. New commercial projects through nine months counted six worth $7.4 million, up from three worth $$5.4 million in 2019. 11-10
