Mar 6, 2023
National Building Permit Value Declines
The total value of building permits in Canada fell four per cent in January to $9.8 billion, says Statistics Canada. On a constant dollar basis, the total value of building permits dropped 3.2 per cent to $5.8 billion. The value of residential permits declined 6.6 per cent to $6.1 billion in January. This was a result of a decrease of 8.3 per cent in the multi-family dwelling component with British Columbia (-27.9 per cent) contributing to much of the decline. The single-family dwelling component decreased 4.4 per cent. The total permit value of non-residential sector was up slightly by 0.7 per cent to $3.7 billion in January. The institutional component building permit value decreased 5.9 per cent, the industrial component fell 3.9 per cent, and the commercial permit value increased 5.4 per cent.
Sign up for our Daily News Alerts to receive relevant industry news, articles, and previews for our next issue of Home Improvement Retailing. Delivered directly to your inbox. Subscribe here.