Page 36 - Bagi Sites_November17

BUILDING PERMITS
Single-Family Permit Numbers Impacted by Government Regulations
Indianapolis, IN – The Builders Association of Greater Indianapolis (BAGI) announced that in the Greater Indianapolis Nine-County area, Single-Family Building Permits slipped 5% percent last month with 442 permits compared to September 2016 numbers at 466. However,
4,708 new home permits have been cumulatively issued compared to 4,447 last year, positively posting a 6% increase year-to date.
“The Greater Indianapolis market remains relatively steady, but we believe there are still opportunities for growth,” says BAGI President, Craig
Jensen. “On average, government regulations currently account for 24% of the nal price of a new home built for sale. While BAGI supports regulatory measures
to ensure safety and support its share of municipal costs associated with growth, communities must identify ways to reduce arbitrary regulations that hinder affordability and ultimately limit opportunities for housing starts.”
Hamilton and Marion Counties continue to lead in permits, with 1,726 and 812 issued permits respectively. Despite this month’s
slip, Madison County is the only county to post negative growth overall for the year.
In the Greater Indianapolis Nine- County region, the permits issued in September 2017 have created a total economic impact of $843,126,545 in local income, $191,403,684 in local taxes, and 14,275 local jobs (see chart below).
ECONOMIC IMPACT CHART
2017 YEAR-TO-DATE
36