Construction in Norfolk remains strong

Norfolk's economic development department reports that construction activity across the county was going like gangbusters through 2019. Monte Sonnenberg/Delhi News Record jpg, DN

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Norfolk County was a full participant in the building boom that defined the landscape in southern Ontario in 2019.

Detailed statistics will be released in January, but the county’s economic development department expects construction through 2019 will be significantly greater than 2018, which was a banner year.

The county said, in a report last week, that the building department first noticed an uptick in construction in the summer.

For the first eight months of 2019, construction values were 25 per cent ahead of the same period in 2018, the report noted.

Construction topped $84.6 million in that period, compared to $67.8 million for the same period in 2018.

The total number of building permits issued in Norfolk in 2019 through the end of August totalled 975. This is 27 per cent more than the number issued through the first eight months of 2018.

As for specific sectors, 2019 is shaping up to be another strong one for home construction. The total number of residential units built in Norfolk through the end of last August was 230, up 36 per cent over the same period in 2018.

Despite the accelerated rate of construction, the Simcoe and District Real Estate Board continues to report historically low inventories of homes for sale in its jurisdiction.

In its monthly report for November, the board says the low inventory continues to put upward pressure on prices.

The average price of a home sold in Norfolk in November, the board reports, was $415,000. This is 16.4 per cent higher than the average price in the county in November 2018.

The total value of construction in Norfolk through all of 2018 was about $100 million. Norfolk’s economic development department reports that total value in 2019, through the end of November, totalled $119.6 million, up 26 per cent over the same period in 2018.

 

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