A construction project is pictured in Ottawa on Monday, Sept. 25, 2023. 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 CANADIAN PRESS/Sean Kilpatrick
OTTAWA – 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.
On a constant dollar basis, the total value of building permits was up 4.3 per cent in August.
This report by The Canadian Press was first published Oct. 11, 2023.
