Value of Building Permits Increase in September
The total value of building permits saw a second quarterly decline, down 3.8% to $29.8 billion.
Health & Safety
Statistics Canada has announced the total value of building permits increased 4.3% to $10.1 billion in September, led by Ontario (+6.3%).
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% to $1.7 billion in September. At the national level, multi-family permits rose sharply, up 18.6% to $3.9 billion.
Overall, the residential sector rose 8.2% in September to $6.9 billion.
Non-residential permit values down
Construction intentions for the non-residential sector were down 3.2% to $3.3 billion in September, despite climbing 55.0% in Alberta.
The value of institutional building permits dropped 30.6%, mostly due to a 35.3% 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% to $1.6 billion in September, mostly due to declines in Ontario.
Industrial building permits jumped 72.1% to $987 million, a record high for the series. Alberta’s growth of 382.9% led the way, reflecting a permit valued at $400 million for the expansion of Calgary International Airport’s Airside Maintenance Centre.
Third quarter construction intentions continue to ease
The total value of building permits saw a second quarterly decline, down 3.8% to $29.8 billion in the third quarter compared with the previous quarter. However, building permits were 14.3% higher compared with the third quarter of 2020.
The value of residential building permits fell 5.4% to $20.2 billion in the third quarter of 2021, with declines in both single-family and multi-family homes. In contrast, on a year-over-year basis, the residential sector was up 16.5%.
Construction intentions for the non-residential sector edged down 0.2% to $9.6 billion compared with the second quarter. Industrial building permits rose 33.8%, helped by large projects such as the Calgary International Airport’s Airside Maintenance Centre expansion and a wind turbine blade manufacturing plant in Quebec.
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May 11, 2022