Total Value of Building Permits in Canada Increases 4.3% in September

Statistics Canada (StatsCan) reported today (11-2-21) that the total value of building permits in Canada increased 4.3% in September 2021 to $10.1 billion (CAD). Construction intentions in the residential sector were up 8.2%, while the non-residential sector decreased 3.2%. On a constant dollar basis (2012=100), building permits increased 3.4% to $6.9 billion. Overall, the residential sector rose 8.2% in September to $6.9 billion.

Construction intentions for the non-residential sector were down 3.2% to $3.3 billion in September. This occurred despite a 55.0% increase in Alberta. The value of institutional building permits dropped -30.6%, mostly due to a -35.3% decline in Quebec. Commercial building permits fell -12.4% to $1.6 billion in September, mostly due to declines in Ontario. Industrial building permits jumped 72.1% to $987 million, a record high for the series.

Compared to Q2 2021, the total value of building permits saw a second quarterly decline — down -3.8% to $29.8 billion. However, building permits were 14.3% higher compared with the Q3 of 2020. The value of residential building permits fell -5.4% to $20.2 billion in Q3 of 2021, with declines in both single-family and multi-family dwellings. In contrast, on a year-over-year basis, the residential sector was up 16.5%.

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Original Source:
Building permits, September 2021