Canada Value of Building Permits

The value of building permits in Canada fell 1.5 percent from a year earlier to CAD 8.3 billion in October 2019, following a downwardly revised 5.9 percent decline in the previous month and missing market forecasts of a 2.9 percent rise. The value of residential permits dropped below CAD 5 billion for the first time since March 2019, as both single (-2.9 percent) and multi-family (-3.4%) dwellings went down. Additionally, the value of commercial permits decreased 5.3 percent to CAD 2 billion, as gains in eight provinces, led by Quebec (+ CAD 161 million), was not enough to offset a decline in British Columbia (CAD -317 million); and industrial permits fell 1.1 percent to CAD 604 million. On the other hand, institutional permits jumped 24.9 percent to CAD 765 million, driven by gains in Manitoba largely due to an expansion at Red River College (+CAD 79 million, its highest level since April 2003), and Ontario (+CAD 72 million).

The value of building permits in Canada declined 6.5 percent from a year earlier to CAD 8.3 billion in September 2019, following a downwardly revised 5.6 percent rise in the previous month and more than an expected 2 percent fall. This is the largest decline in the value of building permits since May, led by the residential sector (-10.7 percent to CAD 5.1 billion). The value of permits for multi-family dwellings fell 12.1 percent to CAD 2.9 billion, with declines in eight provinces, except Nova Scotia and Alberta. Also, the value of permits for single-family dwellings fell 8.7 percent to CAD 2.2 billion, largely due to a decrease in Ontario (-CAD 196 million). In contrast, the value of non-residential permits rose 0.9 percent to CAD 3.2 billion, boosted by a 6.1 percent gain in the commercial segment, mainly attributable to several high-value permits for office buildings in the census metropolitan area (CMA) of Vancouver.

The value of building permits in Canada increased 6.1 percent from a year earlier to CAD 9.0 billion in August 2019, following an upwardly revised 3.2 percent gain in the previous month and above market forecasts of a 1 percent fall. The value of permits for multi-family dwellings advanced 18.8 percent to CAD 3.3 billion, over half of these gains were in British Columbia, largely because of a high-value permit in the census metropolitan area (CMA) of Vancouver. Also, the value of permits for single-family dwellings went up 3.2 percent to CAD 2.4 billion, led by Ontario. In addition, industrial permits were the only component in the non-residential sector to increase in value, rising 18.9 percent to CAD 675 million, driven by a high-value permit for a bio-pharmaceutical company in the CMA of Toronto. Meanwhile, the value of commercial permits fell 5.9 percent to CAD 1.9 billion.

The value of building permits in Canada rose 3 percent from a year earlier to CAD 8.3 billion in July 2019, rebounding from a downwardly revised 3.1 percent fall in the previous month and beating market expectations of a 2.9 percent gain. The largest increase was in commercial permits, which advanced 6.7 percent to CAD 2.0 billion, offsetting three consecutive months of declines. The rise was largely attributable to high-value permits for office buildings in the census metropolitan area of Vancouver. Additionally, the value of residential permits went up 2.2 percent to CAD 5.1 billion, driven by multi-family dwelling (4.2 percent to CAD 2.8 billion) led by led by Ontario (+CAD 95 million) and Quebec (+CAD 72 million) while single-family dwellings (-0.2 percent to CAD 2.3 billion). Also, institutional permits rose 7.6 percent to CAD 0.7 billion. Meanwhile, industrial permits dropped 6.9 percent to CAD 0.6 billion.

The value of building permits in Canada declined 3.7 percent from a year ago to CAD 8.0 billion in June 2019, following a downwardly revised 12.2 percent slump in the prior month and against market expectations of a 1.5 percent rise. The value of residential permits fell 3.1 percent to CAD 4.9 billion, due to the multi-family dwelling (-6.7 percent to CAD 2.6 billion), mostly in Quebec; while the single-family dwelling permits rose (1.3 percent to CAD 2.3 billion). Also, the value of permits for non-residential buildings slid 4.6 percent to CAD 3.1 billion, mainly due to commercial (-1.1 percent to CAD 1.9 billion) and institutional permits (-17.4 percent to CAD 0.7 billion). Conversely, industrial permits rose (1.7 percent to CAD 0.6 billion). In the second quarter of the year, total value of building permits grew 4.1 percent over a year ago to CAD 25.8 billion.

The value of building permits in Canada fell 13 percent from the previous year to CAD 8.2 billion in May 2019, following an upwardly revised 16 percent gain in the previous month and compared with market expectations of a 2.5 percent decline. The value of residential permits dropped 17.2 percent to CAD 5 billion, due to the multi-family dwelling (-28.5 percent to CAD 2.7 billion) while the single-family dwelling permits rose (1.8 percent to CAD 2.3 billion) led by Ontario (+CAD 47 million). Also, the value of permits for non-residential buildings went down 5.7 percent to CAD 3.3 billion, mainly due to commercial (-0.9 percent to CAD 1.9 billion) and industrial permits (-37.5 percent to CAD 581 million). Meanwhile, institutional permits jumped 25.7 percent to CAD 815 million, boosted by higher construction intentions for secondary and elementary schools in British Columbia and nursing homes in Quebec and Ontario.