Monthly value of building permits in Canada increased 10.5% in May
July 10, 2023 | By HPAC Magazine
Nationwide there was a surge was in commercial building permits, up 45.8%, compared with April.
Statistics Canada is reporting that the total monthly value of residential building permits rose 8.5% to $6.8 billion in May over the previous month, with Ontario contributing to 45.8% of those permit values nationally.
Ontario alone increased 16.3% month over month to $3.1 billion, led by multi-dwelling permits issued in urban areas.
New Brunswick ( up 27.2% or $22.2 million) had the highest provincial growth rate, while Quebec (+10.8% or $102.3 million), Alberta (+4.7% or +$34.5 million) and British Columbia (+3.7% or +$50.3 million) saw modest gains.
Across the country, permits for 3,800 new residential units were issued for single-family homes in May, compared with permits for 17,700 new dwellings in multi-unit buildings.
The monthly grow in non-residential permits rose 14.2% to $3.7 billion in May over April.
The biggest surge was in commercial building permits (up 45.8% or $703.4 million), making up for monthly losses in the institutional component (-23.3%).
Despite overall gains, the value of non-residential construction intentions in May was down 11.2% year over year.
