Canadian building permit values rose 8.8 per cent in August, with the gain concentrated in multi-unit housing projects. Residential intentions strengthened while non-residential values edged lower. Municipalities authorised more homes during the month, although the total over the preceding year remained below the previous annual period. The permits describe planned construction rather than homes already completed or occupied.
Canadian building permit values rose 8.8 per cent in August, led by multi-unit residential projects. Statistics Canada, the national statistical agency, released the figures on 14 October.[1], [2]
Seasonally adjusted current-dollar values increased 1.1 billion Canadian dollars to 13.6 billion. At constant prices with 2023 as the reference, permit values rose 8.6 per cent from July and 12.4 per cent from a year earlier.[1]
Residential permits grew by 1.1 billion Canadian dollars to 8.5 billion Canadian dollars. The multi-unit component rose by 1.1 billion Canadian dollars to 5.8 billion Canadian dollars, while single-family values edged down to 2.6 billion Canadian dollars. Ontario led the multi-unit increase, followed by British Columbia and Alberta. Municipalities authorised 21,800 multi-unit dwellings and 4,000 single-family homes, with the combined count rising 12.8 per cent.[1]
Over the twelve months to August, permits authorised 299,500 dwellings, compared with 305,500 in the preceding twelve months. These permits measure construction intentions rather than completed homes. Non-residential permit values edged down. Lower commercial intentions were largely offset by increases in industrial and institutional projects, while September data were scheduled for release on 12 November.[1]
