Residential Building Permits Slow Down by 6.4% for October

December 17, 2022

The total value of building permits in Canada declined 1.4% in October to $10.0 billion. Losses in the residential sector more than offset gains from the non-residential sector.

On a constant dollar basis (2012=100), the total value of building permits decreased 0.9% to $6.0 billion.

Residential sector cools off for second month

The value of residential permits declined 6.4% to $6.5 billion nationally in October. Similarly, the number of new residential units decreased 4.6%, mainly due to single-family dwellings (-9.3%) which fell for the fifth consecutive month.

The value of building permits in the multi-family component decreased 6.9%, with Ontario posting its second consecutive decline after reaching its peak in August. Nova Scotia also recorded a large decline following its record high in September.

The single-family homes component declined 5.8% in October as eight provinces posted a drop in construction intentions. Conversely, Manitoba saw a notable increase of 14.3% following two weaker months.

Ontario pushes up non-residential sector

The total permit value of the non-residential sector increased 9.5% to $3.5 billion in October.

Construction intentions in the commercial component sharply increased by 18.0% in October. Ontario posted the largest gain, with multiple projects valuing over $20 million, while in September, one permit was reported above this level.

The value of building permits in the industrial component sharply increased by 16.2%, largely due to Ontario, which reported a $114 million permit for a water/sewer project in Erin. New Brunswick also posted notable gains, with three projects valuing over $5 million each.

The institutional component continued to slow as it dropped 17.1% in October, following a 38.2% decrease the previous month, reaching its lowest value since May 2020.

To explore data using an interactive user interface, visit the Building permits: Interactive Dashboard.

To explore the impact of the COVID-19 pandemic on the socioeconomic landscape, please consult the Canadian Economic Dashboard and COVID-19.

For more information on housing, please visit the Housing statistics portal.

Statistics Canada has a Housing Market Indicators dashboard. This web application provides access to key housing market indicators for Canada, by province and by census metropolitan area. The indicators are updated automatically with new information from monthly releases, giving users access to the latest data.

Source

Related Articles


Latest Articles


Changing Scene

  • Skills Ontario Supports Ontario’s Investments in Skilled Trades in Budget Announcement

    Skills Ontario Supports Ontario’s Investments in Skilled Trades in Budget Announcement

    March 28. 2024 As demand for skilled trades professionals rises, Skills Ontario is commending the government for continued investments in skilled trades and technology programing, working to address the shortfall and need to build the workforce of the future in Ontario.  The skilled trades shortage is costing Ontario approximately $25 billion in foregone GDP. A… Read More…

  • IVRY Launches 7 New VR Lessons

    IVRY Launches 7 New VR Lessons

     IVRY Technologies, a division of IDEAL Electrical, is launching seven new virtual reality (VR) lessons in Canada as part of its Virtual Electrical Training (VET) Series 2 training module. The cutting-edge training will serve as a learning resource for International Brotherhood of Electrical Workers (IBEW) training centers across Canada. Read More…

  • PEI Budget 2024 Signals Continued Focus on Healthcare, Housing and Affordability for all Islanders 

    PEI Budget 2024 Signals Continued Focus on Healthcare, Housing and Affordability for all Islanders 

    March 28, 2024 Hon. Jill Burridge, Minister of Finance, presented government’s 2024-25 operating budget to the legislative assembly, outlining $3.2 billion in investments for Prince Edward Island with a continued focus on healthcare, housing and affordability measures. “This budget signals where we’re headed as a province and shows Islanders where we will be making key… Read More…

  • BC’s Budget 2024 Prioritizes Actions for Low-Carbon Economy

    BC’s Budget 2024 Prioritizes Actions for Low-Carbon Economy

    March 28, 2024 Josie Osborne, Minister of Energy, Mines and Low Carbon Innovation, and Brittny Anderson, MLA for Nelson-Creston, met with community climate leaders in Nelson to discuss how Budget 2024 can help support people in the region to transition to a low-carbon economy and meet shared CleanBC goals. “Our government’s budget this year reflects the… Read More…