Ottawa, ON — March saw the total monthly value of building permits in Canada increase by 11.3 per cent to $11.8 billion, largely thanks to an increase in the non-residential sector, which was up 32.0 per cent. The record high was largely due to 10 individual non-residential projects valued at over $100 million each.
Overall, the total value of building permits in the first quarter of 2023 gained 4.8 per cent from the last quarter of 2022 to $32.4 billion, ending three consecutive quarterly declines.
Both the commercial (up 41.5 per cent) and the institutional (up 29.5 per cent) sectors saw increased construction intentions.
In the first quarter of 2023, the non-residential sector expanded 16.1 per cent to a record-high $13.0 billion in the first quarter of 2023, significantly exceeding the previous quarterly record of $12.4 billion.
While the non-residential sector saw gains, the residential sector stalled in March, down 0.9 per cent to $66.6 million.
The decline was primarily due to decreases seen in five provinces, with Ontario, down 8.1 per cent, weighing down the sector the most. Saskatchewan, down 27.0 per cent, posted the largest proportional decline of the month.
The significant gains seen in British Columbia (up 30.9 per cent) and the four Atlantic provinces (up 14.0 per cent) were not enough to offset the declines.
Overall, residential construction intentions declined 1.6 per cent to $19.4 billion, sliding for the third consecutive quarter.