Total Value of Canadian Building Permits Decline in June but Were up Overall in Q2 2022

Statistic Canada (StatsCan) reported today (8-4-22) that the total value of building permits in Canada declined 1.5% in June to $11.9 billion (CAD). The decrease is a result of the non-residential sector dropping 10.4% to $3.7 billion, after posting its second-highest monthly value in May. On a constant dollar basis (2012=100), the total value of building permits decreased 3.4% to $7.2 billion.

The value of residential permits in June increased 3.1% to $8.2 billion nationally. Overall, 15 out of the 20 highest value permits submitted across all sectors were for apartment or condo buildings. Construction intentions in the single-family home component declined 0.6%.

The total value of non-residential sector permits fell 10.4% to $3.7 billion. Commercial permit values decreased 2.7%, with declines reported in eight provinces. Construction intentions in the institutional component fell 32.2%, following strong growth in May resulting from a large hospital permit in British Columbia. On the other hand, the value of industrial permits rose 0.6%. Notably, it shot up 206.0% in Saskatchewan, largely due to the construction of a new power plant in Moose Jaw.

For all of Q2 2022, StatsCan is reporting that the total value of building permits increased 2.8% from the previous quarter to $35.9 billion, with gains in both the residential and non-residential sectors.

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