Total Value of Canadian Building Permits Increased 10.5% in May
Building permits, May 2023
Statistics Canada (StatCan) reported on Monday (7-10-23) that the total monthly value of building permits in Canada increased 10.5% in May to $10.5 billion (CAD). On a constant dollar basis (2012=100), the total value of building permits increased 10.0% to $6.2 billion.
The total monthly value of residential permits rose 8.5% to $6.8 billion in May, with Ontario contributing 45.8% of Canada’s total residential permit values. Permits for 3,800 new residential units were issued for single-family homes, compared with permits for 17,700 new dwellings in multi-unit buildings.
The total monthly value of non-residential permits increased 14.2% to $3.7 billion in May. Commercial permits soared 45.8%, or $703.4 million, which more than offset monthly losses in the institutional component—down 23.3%, or $251.3 million. Year-over-year, the value of non-residential construction intentions decreased 11.2% despite overall monthly gains.
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