Canadian Building Permits Increase 3.4% in September

Statistics Canada (StatCan) reported on Wednesday (10-11-23) that the total monthly value of building permits in Canada increased 3.4% in August to $11.9 billion (CAD). On a constant dollar basis (2012=100), the total value of building permits was up 4.3% to $6.9 billion.

The total monthly value of residential permits declined 3.7% to $6.8 billion in August. August’s declines were led by a weaker multi-unit construction sector which was partially offset by monthly gains in the value of single-family permits. Across Canada, the single-family component was up 5.5% to $2.9 billion—the fourth consecutive monthly increase in the sector.

StatsCan notes that after removing the effect of changes in construction costs, on a constant dollar basis, the value of single-family home permits stood at $1.5 billion in August, which is still below the average monthly pre-pandemic level ($1.8 billion in 2019).

The total monthly value of non-residential permits increased 14.8% to $5.0 billion in August. This reflects high-value non-residential permits issued in August for two hospital renovations (one in Toronto and the other in North Vancouver), a new university building in BC, a new correctional facility in Ontario, and a new arena in Ontario.

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