In March, the number of building permits in Canada recently saw its largest jump in the past six months, according to Statistics Canada.
Its report states the increase in construction intentions for multi-family units in Ontario and the number of permits for non-residential buildings in British Columbia and Alberta were the main contributors to the overall growth. Further, the value of issued permits jumped 11.6 per cent to $6.87 billion, which was the first increase in three months.
The value of non-residential building permits rose 22 per cent to $2.4 billion, following two consecutive monthly declines. Gains occurred in eight provinces, led by British Columbia and Alberta, and declines were in Ontario and Newfoundland.
Residential building permits for single-family units fell 3.4 per cent to $2.3 billion. Gains were experienced in Ontario and Québec, but they were not large enough to offset declines. However, residential building permits for multi-family units rose 19.6 per cent to $2.1 billion, led by Ontario and British Columbia, with declines in Québec and Nova Scotia.
Institutional building permits increased 73.9 per cent to $661 million, helped by advances in educational institutions, medical facilities, and retirement homes. Alberta led the seven provinces experiencing gains in this sector.
Commercial building permits increased 11.4 per cent to $1.4 billion. Higher construction intentions for warehouses, hotels, restaurants, and retail and wholesale outlets are responsible for the advance. British Columbia, Alberta, and Newfoundland had increases, while Ontario experienced the largest decline.
See the full report here.
