According to Statistics Canada, municipalities issued $7.7 billion worth of building permits in October, up 9.1 percent from a month earlier. This was the first increase in three months. Higher construction intentions for multi-family dwellings and institutional buildings in Alberta were responsible for much of the gain, as builders filed permits in advance of the changes in the building code.
The value of residential building permits rose 15.5 percent from September to $4.8 billion in October. The advance followed an 11.4 percent drop in September and a 5.4 percent decline in August. Construction intentions for non-residential buildings edged down 0.2 percent to $2.9 billion in October.
The value of building permits for multi-family dwellings increased 35.4 percent to $2.5 billion in October. The advance followed two consecutive monthly declines. Construction intentions for single-family dwellings edged down 0.3 percent to $2.3 billion in October, marking a third consecutive monthly decline.
Municipalities approved the construction of 19,781 new dwellings in October, up 17.1 percent from the previous month. The gain was mainly attributable to multi-family dwellings, which increased 25.4 percent to 14,078 units. The number of single-family dwellings edged up 0.7 percent to 5,703 units.
The value of permits issued for commercial buildings declined for a second consecutive month, down 9.9 percent to $1.4 billion in October. The decline at the national level was mainly the result of lower construction intentions for warehouses, office buildings and hotels and restaurants.
In the industrial component, the value of building permits fell 22.4 percent to $430 million in October, following a 17.1 percent increase in September. The decline was mainly attributable to lower construction intentions for utilities buildings and manufacturing plants.
The value of institutional building permits rose 36.4 percent to $1.0 billion in October, following a large increase in September. The gain at the national level was attributable to higher construction intentions for retirement homes, continuing care facilities and government buildings.