Canadian Residential Building Permits Increase in 7 Out of 10 Provinces in November

Statistics Canada (StatsCan) reported today (1-5-22) that the total value of building permits in November increased 6.8% to $11.2 billion (CAD). According to StatsCan, 7 out of 10 Canadian provinces reported increases, with Alberta leading the way with a 20.6% jump. Overall construction intentions in the residential sector increased by 12.0%, while the non-residential sector experienced a -3.4% decline. On a constant dollar basis (2012=100) building permits increased 6.3% to $7.6 billion.

Residential construction intentions increased for the third consecutive month — up 12.0% to $7.8 billion at the national level in November, reaching the highest level since the record set in March 2021. The total value of multi-family permits bounced back 20.2% after the previous month’s -8.5% decline. Permits for single family homes rose 3.3%.

In November, the value of institutional permits fell -49.2% to $613 million, undoing October’s strong growth. This was the lowest level of institutional permits since April 2020.

Construction intentions in the commercial component rose by 14.3%. While Industrial permits rose 45.1% in November following a strong downturn in October.

Despite notable growth in the commercial and industrial components, overall, the non-residential sector -3.4% in November.

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Original Source:
Building permits, November 2021