Building Permits See Increase

The total value of building permits rose 4.3 per cent to $10.1 billion in September, led by Ontario (up 6.3 per cent), says Statistics Canada. Construction intentions in the residential sector went up 8.2 per cent, while the non-residential sector decreased 3.2 per cent. Furthermore, 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 per cent in September, while construction intentions for single-family homes declined 2.7 per cent. In the non-residential sector, the value of institutional building permits dropped 30.6 per cent, mostly due to a 35.3 per cent decline in Quebec, followed by a strong August when a $116 million permit was issued for a hospital expansion in the city of Verdun. Additionally, commercial building permits fell 12.4 per cent and industrial building permits jumped 72.1 per cent. Also, the total value of building permits saw a decline in the third quarter, down 3.8 per cent to $29.8 billion compared to the previous quarter. However, building permits were 14.3 per cent higher compared with the third quarter of 2020, while the value of residential building permits fell 5.4 per cent to $20.2 billion in the third quarter of 2021, with declines in both single-family and multi-family dwellings. In contrast, on a year-over-year basis, the residential sector was up 16.5 per cent and construction intentions for the non-residential sector edged down 0.2 per cent.