New Development down 16% in 2020

New DevelopmentAnalysis of municipal building permits issued in 2020 indicates that the COVID-19 pandemic put a damper on new development across Ontario in almost every property category.

We found a 16% decrease in new development permits in 2020 compared to the previous year. A total of 44,914 permits were issued in 2020, compared to 53,663 in 2019.

“This decline continued a trend from the year before, but with a much steeper drop,” says Carmelo Lipsi, MPAC ‎Vice President and Chief Operating Officer. From 2018 to 2019, the total number of new development building permits decreased by 4% (from 55,733 in 2018 to 53,663 in 2019). Presumably, the effects of the pandemic contributed to the more significant decline year-over-year from 2019 through 2020.