Residential building permit application numbers rally
‘More of a slow and steady feel’ to latest activity in Calgary, CMHC analyst says
Intentions to start construction on new homes in Calgary this past March were stronger than the same month in 2017.
There were 360 applications for residential building permits submitted last month, up four per cent from 347 year over year, the City of Calgary’s planning and development department says.
“In terms of housing demand in Calgary, I think it’s gradually improving,” says Richard Cho, principal of market analysis for the Canada Mortgage and Housing Corp. “We’re not expecting to see any sharp rebounds over the next couple of years, but more of a slow and steady feel.”
On the permit application figures, however, Cho says it’s important to realize that they indicate an intention to build, and buyers may or may not be in place.
The highest number of residential building permit applications came from a community that has led the monthly tally since the start of 2018.
Mahogany by Hopewell Residential carried the pace with 39 on the books last month, city figures say. It was one of three communities on the southeast end of Calgary with at least 20 applications. The others were Legacy by WestCreek Developments with 28, and Seton by Brookfield Residential with 21.
Following Mahogany, the area that displayed the strongest interest to break ground on new homes last month was Carrington in northwest Calgary with 33 applications. Carrington is comprised of separate master-planned communities by Mattamy Homes, and Genstar Development Co.
Also reaching 20 applications last month was Saddle Ridge. It has two new communities developing within: Savanna in Saddle Ridge by Genstar and Saddlestone by Genesis Land.