While both Martensville and Warman show continuing healthy growth, the total value of construction in both cities last year was well below the lofty levels of the past decade.
Statistics released recently by Warman and Martensville municipal planning departments show the value of residential and commercial construction in the communities during 2020 fell to their lowest levels in ten years.
The decline was brought on by the economic slowdown of the past few years, coupled with supply shortages and labour disruptions resulting from the COVID-19 pandemic.
The total value of building permits issued in Warman between January 1 and December 31, 2020 was $26,193,709. This compares to $29,848,218 for the 2019 calendar year.
In Martensville, meanwhile, building permit values issued between January 1 and December 21, 2020 totalled $12,214,951; down from $18,182,949 for the same period in 2019.
There has been an overall gradual downward trend in both the number of building permits and the total value of construction in both communities since the peak years of 2012-15.
Warman’s construction activity peaked in 2014, when 300 residential homes were built along with 40 commercial, industrial and government buildings. The combined value of construction that year, which also included additions and renovations, amounted to $131,853,024.
Martensville’s pace of construction peaked in 2015, when the overall value of the 69 residential dwellings, 26 commercial and government buildings, as well as additions and renovations constructed during the year totalled $63,562,469.
Between 2010 and 2020 inclusive, the cumulative value of all construction in Warman totalled $700,118,507.
For the same period in Martensville, the overall cumulative total value of construction amounted to 353,478,954.