WHITEHORSE – The Yukon Liberal Caucus is pleased about increases in the preliminary seasonally-adjusted current dollar value of building permits in the Yukon for July 2023.
According to recent data from Statistics Canada, the value of building permits reached $53.7 million, marking an increase of $34.0 million, or 172.7 per cent, compared to July 2022 when it was $19.7 million. This growth surpasses the national average, as Canada saw a 4.4 per cent increase in total value of permits during the same time period.
Year-to-date figures for 2023 (covering January through July) show that the preliminary total current dollar value of building permits issued in Yukon amounted to $188.6 million, reflecting an increase of $37.5 million, or 24.8 per cent, compared to the same period in 2022, which was $151.1 million. Residential permits increased by $5.7 million, or 11.9 per cent, while non-residential permits increased by $31.7 million, or 30.9 per cent.
Premier Ranj Pillai, MLA for Porter Creek South and minister responsible for housing and economic development portfolios, expressed his optimism about growth in the territory, stating that “This economic growth is due to the Yukon’s resilience and investor confidence in our people and our territory. This success reflects our government’s commitment to fostering economic prosperity and is a testament to the hard work of our construction industry and local contractors.”
“The Yukon Liberal Government will continue to foster economic prosperity and create opportunities for all Yukoners by promoting strategic investments and policies that promote sustainable development,” the Premier continued.
“The Yukon Liberal Caucus is working tirelessly, for all Yukoners, to drive economic growth and make life more affordable for Yukoners. We look forward to further collaboration with construction industry stakeholders and the broader community so that everyone in the Yukon has a place to call home,” concluded Pillai.