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%.