According to Statistics Canada, municipalities issued $7.6 billion worth of building permits in October, up 8.7 percent from September. Higher construction intentions for commercial structures and residential dwellings in Alberta were responsible for much of the gain, as builders filed permits in advance of the changes in the provincial Building Code.
The value of residential building permits rose 7.7 percent to $5.2 billion in October. This was the third consecutive monthly increase. Construction intentions for non-residential buildings increased 10.7 percent to $2.5 billion in October, following a 21.4 percent drop in September.
The value of permits for single-family dwellings rose 7.7 percent to $2.8 billion in October, a third consecutive monthly increase. In the multi-family dwelling component, $2.3 billion worth of permits were issued in October, up 7.7 percent from September.
The value of permits in the commercial component rose 29.3 percent to $1.6 billion in October. Higher construction intentions for hotels, office buildings and retail complexes were mostly responsible for the increase.
In the industrial component, the value of permits fell 3.5 percent to $348 million in October. This was the second consecutive monthly decline. The drop was largely the result of lower construction intentions for primary industry buildings.
The value of institutional building permits fell 17.5 percent to $527 million in October. Lower construction intentions for nursing homes and educational institutions accounted for the majority of the decrease.