The value of building permits in Canada plunged 17.1% from a month earlier to CAD 6 billion in April 2020, following a downwardly revised 13.4% fall in March. It was the largest decline in the value of building permits since October 2008, amid the coronavirus crisis. The total value of residential permits dropped 14.2%, as permits for single family dwellings fell at a record pace (-35.9%) while multi-family dwellings rose 4.8%. Additionally, the value of commercial permits slumped 21.5%, mainly due to industrial permits (-34.7%), commercial (-21.5%) and institutional (-10.5%). Declines were reported in 8 provinces, with the largest in Quebec (-34.1%) and Ontario (-20%). Although most municipalities were still issuing permits in April, Quebec's decision to shut down non-essential construction activity due to the pandemic led to it posting its largest month-over-month percentage fall on record.
Building Permits in Canada averaged 2515862.38 CAD Thousand from 1950 until 2020, reaching an all time high of 9595965 CAD Thousand in April of 2019 and a record low of 57056 CAD Thousand in November of 1951. This page provides - Canada Building Permits - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Value of Building Permits - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: Statistics Canada
Building Permits in Canada is expected to be 7800000.00 CAD Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Building Permits in Canada to stand at 8180000.00 in 12 months time. In the long-term, the Canada Value of Building Permits is projected to trend around 8250000.00 CAD Thousand in 2021 and 8350000.00 CAD Thousand in 2022, according to our econometric models.