Toronto building permits were up 42 per cent in October according to a report by Statistics Canada.

The federal agency reported contractors took out $1.042 billion worth of permits compared to $733 million in September.

At the national level, building permits were up 18 per cent to $6.1 billion with Ontario and Quebec accounting for most of the growth.

The Toronto Real Estate Market reported Toronto home sales in November doubled from one year ago with the average home now $450,079.

Amazingly this recovery occurred in the midst of a worldwide recession and there still appears to be a significant upside in momentum for building activity.

Confidence is driving the Real Estate Market in Toronto and other developers seem to agree.

Three new Toronto downtown fininacial district office towers have just been completed and three more new Luxury Hotel-Condominims are now under construction.