Value of Canadian building permits up 0.4 percent in September

Tuesday, 06 November 2018 01:10:01 (GMT+3)   |   San Diego
       

According to Statistics Canada, Canadian municipalities issued $8.1 billion worth of building permits in September, up 0.4 percent from August. The national increase was driven by higher construction intentions in Quebec.

The value of building permits in the non-residential sector was up 0.6 percent to $3.1 billion in September, due to higher construction intentions for institutional buildings.

In the institutional component, the value of building permits rose 16.4 percent from August to $806 million. The increase in the value of permits mainly stemmed from post-secondary institutions and nursing homes. Six provinces reported gains, led by Quebec.

In the commercial component, $1.7 billion worth of permits were issued in September, down 3.3 percent from the previous month. Permits for office buildings accounted for the majority of the decline. Five provinces reported decreases, with the largest drop in British Columbia.

The value of building permits in the industrial component fell 5.7 percent to $636 million. Five provinces reported declines, with the most significant decreases in Quebec and British Columbia.

In the residential sector, the value of building permits edged up 0.3 percent to $4.9 billion, posting the first increase in four months. Higher construction intentions for multi-family dwellings contributed to the rise.

In the multi-family dwelling component, the value of permits rose 1.5 percent to $2.7 billion. The increase was led by Quebec, where $752 million worth of building permits were issued, up 49.1 percent from August.

The value of building permits for single-family dwellings was down 1.2 percent to $2.2 billion in September, the fourth consecutive monthly decrease. Four provinces reported declines, most notably Ontario and Alberta.

Municipalities approved the construction of 19,073 new dwellings in September, up 7.8 percent from August. The increase was attributable to both single-family (+3.3 percent) and multi-family (+9.4 percent) dwellings.


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