Up and Away

November 8, 2021

Medicine Hat is at pre-pandemic levels, when it comes to permits and new developments, according to The City of Medicine Hat’s planning and development services monthly report.

Building permits from January 2021 to September 2021 are over 162 percent higher than last year. In the first nine months of 2021, Medicine Hat has issued 677 permits totaling $93,712,723, compared to last year’s 582 permits totaling $35,724,705.

“We have definitely seen an increase in the amount and size of projects we’re working on in the second half of this year,” says Aaron Brost, owner, Brost Developments. “We are seeing a return in consumer confidence. Those who may have waited to see the ongoing effects of the pandemic are now moving forward with their projects.”

The month of September 2021 saw $34,907,045 permit value, compared to September 2020, which amounted to $5,697,547.

Residential housing had the largest growth between the two years, over 55 per cent higher than what the previous year presented.

“We are attracting individuals and families who have the ability to work remotely,” says Brost. “Our house pricing is equal or better value than larger centres, and what we offer as a community puts us top of the list for those on the move.”

Duplexes, tri- and four-plexes have all seen a large increase since the beginning of the year. Permit values for duplexes increased 275 per cent to $7,307,212, while permit value for tri- and four-plex’s grew 105 per cent to $2,483,066.

“In the rental market, there is a low vacancy rate, creating space again for investors to convert existing occupant owned property to rental, and to construct new multifamily units,” says Brost.