According to Statistics Canada, the total value of building permits issued by Canadian municipalities decreased 6.5 percent to $8.3 billion in September, largely due to declines in the residential sector. Gains were reported in four provinces, with the largest increase in Alberta (+7.2 percent to $1.0 billion). The largest decline was in Quebec (-20.5 percent to $1.5 billion), mostly due to a drop in the value of permits for multi-family dwellings.
The value of residential building permits was down 10.7 percent to $5.1 billion in September. The value of permits issued for multi-family dwellings fell 12.1 percent to $2.9 billion, with declines in eight provinces, while Nova Scotia and Alberta reported the sole increases. The value of permits for single-family dwellings decreased 8.7 percent to $2.2 billion nationally. This decline was largely due to a decrease in Ontario (-$196 million), following strong growth in August.
Commercial permits rose 6.1 percent to $2.0 billion in September, largely due to several high-value permits for office buildings in the census metropolitan area of Vancouver. The increase in the value of commercial permits more than offset declines in the value of industrial and institutional permits.