Some residential segments fared better than others, according to new official statistics
The total value of building permits in Canada grew to $10.3 billion in October (up 1.3% annually) despite a slight decline (0.1%) in residential construction intentions, according to new data from Statistics Canada.
Gains in British Columbia (+15%) and Ontario (+4.5%) propelled the national increase. However, sustained strength in New Brunswick (+123.8%) was not enough to compensate for the housing sector lethargy seen in Ontario (-2.2%) and British Columbia (-4.9%), StatCan said.
“Multi-family units fell 8.8% at the national level, following a strong September, mostly due to fewer higher-valued permits issued in Ontario and British Columbia,” StatCan said.
The value of single-family home permits grew by 10.8% in October, impelled by Ontario (+15.1%). Saskatchewan was the only province that registered a decline (-8.6%), StatCan said.
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The value of non-residential permits continues to exhibit recovery, which was particularly apparent in the institutional (+63.2%) and commercial (+10.1%) sectors. The total value of non-residential building permits at the national level grew by 4.2% to $3.4 billion, 16.7% above pre-pandemic levels, StatCan said.
