The total value of building permits increased again, up 6.8 per cent to $11.2 billion in November.Ottawa, ON — The total value of building permits issued has increased for the second month in a row, up 6.8 per cent to $11.2 billion in November. Seven provinces reported increases with Alberta (up 20.6 per cent) leading the charge.
For the third consecutive month, construction intentions for the residential sector increased, up 12.0 per cent to $7.8 billion—the highest level reached since March 2021. Out of all the provinces, the most notable gains were seen in British Columbia (up 31.7 per cent).
The total value of multi-family permits rose 20.2 per cent following a decline in October. The value of permits for single-family houses increased 3.3 per cent with Nova Scotia setting a record ( up 35.9 per cent).
While October reported strong growth, November saw the value of institutional permits fall 49.2 per cent to $613 million. The lowest its been since April 2020.
Construction intentions in the commercial sector rose 14.3 per cent, with Alberta recording the most significant increase (up 140.2 per cent). Industrial permits also saw a rise, up 45.1 per cent, which was thanks to large gains recorded in Ontario (up 98.0 per cent).
Even with significant increases in the commercial and industrial components, the non-residential sector declined 3.4 per cent overall in November.