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 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.
The Canadian Press
