Value of Canadian building permits rises 4.3 percent in September

Tuesday, 02 November 2021 20:21:53 (GMT+3)   |   San Diego
       

According to Statistics Canada, the total value of building permits rose 4.3 percent to $10.1 billion in September, led by Ontario (+6.3 percent). Construction intentions in the residential sector were up 8.2 percent, while the non-residential sector decreased 3.2 percent.

High-value permits for two new condo buildings valued at over $300 million in the cities of Mississauga and Toronto helped push Ontario's multi-family permits up 40.4 percent to $1.7 billion in September. At the national level, multi-family permits rose sharply, up 18.6 percent to $3.9 billion.

Conversely, construction intentions for single-family homes declined 2.7 percent to $3.0 billion, mainly reflecting decreases in Ontario and Quebec. Overall, the residential sector rose 8.2 percent in September to $6.9 billion.

Construction intentions for the non-residential sector were down 3.2 percent to $3.3 billion in September, despite climbing 55.0 percent in Alberta.

The value of institutional building permits dropped 30.6 percent, mostly due to a 35.3 percent decline in Quebec. The decrease in Quebec followed a strong August when a $116 million permit was issued for a hospital expansion in the city of Verdun. Commercial building permits fell 12.4 percent to $1.6 billion in September, mostly due to declines in Ontario.

Industrial building permits jumped 72.1 percent to $987 million, a record high for the series. Alberta's growth of 382.9 percent led the way, reflecting a permit valued at $400 million for the expansion of Calgary International Airport's Airside Maintenance Centre.


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