Total Value of Canadian Building Permits Increased 1.3% in October

Statistics Canada (StatsCan) reported today (12-1-21) that the total value of building permits increased 1.3% to $10.3 billion (CAD) in October. Construction intentions in the non-residential sector were up 4.2%, while the residential sector inched -0.1% lower. On a constant dollar basis (2012=100), building permits increased 0.7% to $7.0 billion.

Residential construction intentions edged down -0.1% to $6.9 billion. The value of permits for single-family homes rose 10.8%. Multi-family units fell -8.8% at the national level, following a strong September. However, New Brunswick reported its second highest value on record (+123.8%), stemming from high value apartment permits.

Overall, the total value of building permits in the non-residential sector at the national level rose 4.2% to $3.4 billion, 16.7% above the pre-pandemic level in February 2020. Construction intentions for institutional buildings jumped 63.2%, with a $254 million. Commercial building permits rose 10.1%.

FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.
Original Source:
Building permits, October 2021