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- Statistics Canada reported the value of building permits of C$9.4 billion in November, an increase of 12.9 per cent month-over-month (MoM). This growth was led by increase in permits for multi-family apartments in British Columbia and Ontario, and office towers in the city of Toronto. This is the third-highest value on record since April 2019. However, industrial permits plunged to C$ 537 million, a 9.3 per cent decline in November.
- The value of housing permits touched a record of C$ 6.4 billion in November, breaking highest mark set September 2020. This was also a 10 per cent per cent MoM jump. The growth was led by British Columbia that saw 27.8 per cent rise, while Ontario witnessed improvement in each of the last four months.
- Non-residential permits grew by one-fifth MoM to C$3.0 billion in November, primarily because of C$ 507 million office building permits in downtown Toronto. The value of commercial buildings contributed one-third of the total non-residential permits’ value. Subsequently, Ontario touched its second-highest level to date.
- Single-family house permits amplified by 4.4 per cent to C$ 2.8 billion in November, maintaining a robust upward trend over the last six months, and beating pre-COVID levels. Quebec posted the largest surge of 12.7 per cent, but Nova Scotia was the only province that tumbled 8.5 per cent.
Canada’s Building Permits Value Surges 12.9% In November: StatCan
2 min read | December 27, 2020 12:29 AM EST | By
Team Kalkine Media
