According to Statistics Canada, the value of building permits issued by Canadian municipalities declined 7.7 percent to $7.7 billion in November, the first decrease in three months. Nationally, the value of permits for all building components declined, with the exception of single-family dwellings.
The value of building permits for non-residential structures fell 12.3 percent to $2.9 billion in November, following two monthly increases. The decline was spread over the three non-residential components (commercial, industrial and institutional).
As of November, Canadian municipalities had issued over $100 million more in building permits in 2017 compared to the 2016 total, led by higher construction intentions for universities, hospitals and manufacturing plants. Initiatives such as the Post-Secondary Institutions Strategic Investment Fund, announced in the 2016 Federal Budget, may have contributed to the increase in the value of university building permits in 2017, while multiple high-value permits helped to drive up the overall value for hospitals and manufacturing plants.
The value of permits for single-family dwellings remained at $2.6 billion in November. After falling from a peak of $2.9 billion in October 2016, the value of permits for single-family dwellings remained steady at approximately $2.6 billion throughout 2017.