The increase came as gains in the non-residential sector offset modest declines in residential construction plans
Statistics Canada says the total monthly value of building permits in Canada rose 3.4 per cent in August to $11.9-billion, as gains in the non-residential sector offset modest declines in residential construction plans.
The agency says the total monthly value of non-residential permits rose 14.8 per cent to $5.0-billion in August. The increase came as permits were issued for hospital renovations in Toronto and North Vancouver, B.C., a new university building in Kelowna, B.C., a new correctional facility in Thunder Bay, Ont., and a new arena in Whitby, Ont.
On the residential side, the total monthly value of permits issued fell 3.7 per cent to $6.8-billion in August as the value for permits for multi-unit construction intentions fell 9.5 per cent to $3.9-billion. However, the value of single-family home permits in August rose 5.5 per cent to $2.9-billion in August, marking the fourth consecutive monthly increase.
The indicator comes as politicians across the country look for ways to increase the pace of new home construction in a bid to help alleviate the housing shortage in Canada.Participate in our research study and earn a $25 gift cardIf so, our UX team would love to talk with you about your experience. The ask: A 1-hour interview on Zoom between October 16 and November 3, 2023 — Choose a time that’s convenient for you.
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