Multi-family permits surge in September: StatsCan building permit report
By Stats Canada
By Stats Canada
The total value of building permits rose 4.3% to $10.1 billion in September, led by Ontario (+6.3%). Construction intentions in the residential sector were up 8.2%, while the non-residential sector decreased 3.2%.
On a constant dollar basis (2012=100), building permits increased 3.4% to $6.9 billion.
Ontario drives residential permits up
High-value permits for two new condo buildings valued at over $300 million in the cities of Mississauga and Toronto helped push Ontario’s multi-family permits up 40.4% to $1.7 billion in September. At the national level, multi-family permits rose sharply, up 18.6% to $3.9 billion.
Overall, the residential sector rose 8.2% in September to $6.9 billion.
Third quarter construction intentions continue to ease
The total value of building permits saw a second quarterly decline, down 3.8% to $29.8 billion in the third quarter compared with the previous quarter. However, building permits were 14.3% higher compared with the third quarter of 2020.
The value of residential building permits fell 5.4% to $20.2 billion in the third quarter of 2021, with declines in both single-family and multi-family dwellings. In contrast, on a year-over-year basis, the residential sector was up 16.5%.
Construction intentions for the non-residential sector edged down 0.2% to $9.6 billion compared with the second quarter. Industrial building permits rose 33.8%, helped by large projects such as the Calgary International Airport’s Airside Maintenance Centre expansion and a wind turbine blade manufacturing plant in Quebec. However, declines in the commercial (-3.2%) and institutional (-14.4%) components pulled the sector down overall for the quarter.
On a constant dollar basis (2012=100), building permits fell 6.6% to $20.4 billion in the third quarter, and were down 3.1% compared with the same period a year earlier. The year-over-year decrease in constant dollar terms mainly reflects higher construction prices in 2021.