Canadian Residential and Non-Residential Building Permits Declined in January 2022

Statistics Canada (StatsCan) reported today (3-4-22) that the total value of building permits in January dropped by -8.8% to $10.1 billion (CAD). Declines were reported in both the residential and non-residential sectors.

On a constant dollar basis (2012=100), the total value of building permits decreased -8.2%.

In January, the national residential sector declined -11.6% to $6.7 billion. A majority of the drop came from the multi-family component, which fell -18.5%, while intentions for single family homes decreased by -3.8%. Most of the declines in January were in Ontario and British Columbia.

The national non-residential sector declined -2.7% to $3.4 billion. The commercial component decreased by -10.2%, which pulled the non-residential sector lower. Ontario and British Columbia reported the largest declines in this sector.

Nationally, the decline in commercial construction intentions was partially offset by a 15.2% increase in the industrial component.

Construction intentions in the institutional component (-2.6%) were slightly lower in January compared with the value in December. Declines in six provinces were mostly offset by strong growth in Ontario (+68.4%), reflecting a $102 million nursing home permit issued in North Bay.