Building Permits in Canada Continue Strong Showings
Commercial permits surged 28.7% to $1.9 billion in April thanks to a $97 million permit for the Sick Kids patient support centre in the city of Toronto.
Statistics Canada has announced building permits remained at a historic level through April 2021, edging down 0.5% to $11.1 billion, following the record set in March.
The slight decrease is reportedly from declines in the residential sector in British Columbia and Quebec, which outweighed national gains in the non-residential sector.
On a constant dollar basis, building permits were largely unchanged.
Residential sector remains strong
The residential sector saw the value of building permits fall 6.7% to $7.7 billion in April. Despite the decrease, this was the second highest value on record. British Columbia (-23.7%) and Quebec (-14.9%) accounted for most of this decline.
The value of building permits for multi-family homes dropped 6.5% to $4.1 billion. Gains in Ontario and Alberta were not enough to offset decreases in British Columbia and Quebec.
Eight provinces reported a decline in the value of permits issued for single-family dwellings, with the national total down 7.0% to $3.6 billion, mainly as a result of fewer new projects in Ontario and Quebec.
Commercial and institutional components boost the non-residential sector
Commercial permits surged 28.7% to $1.9 billion in April. A $97 million permit for the Sick Kids patient support centre in the city of Toronto and an $80 million permit for the Centennial Community and Aquatics Centre in the city of New Westminster were among several large permits that were issued in the month.
Overall, the value of building permits in the non-residential sector climbed 17.4% to $3.4 billion.
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October 25, 2021