Building Intentions Over $5 Billion
For the third time in a row in a course of four months, the residential construction permits value given by Canada’s municipalities in January went up to $5.1 billion, passing the $5 billion threshold. This caused a 2.7 increase from December, with Alberta, BC and Manitoba seeing gains, leaving increases in seven provinces and counterbalancing a huge decline in Ontario.
Reports by Statistics Canada have it that multi-family construction plans totalled to $2.3 billion after an increase of 3.6 per cent, single family permits increase by 1.9 per cent from December last year, it equalled to $2.8 billion.
Multi-family units slipped by 5.2 per cent, with a total of 19,207 permits issues for new homes after a decrease in volume, on the other hand, single-family units went up by 0.8 per cent. In the metro area, the largest increase in permits was recorded in Edmonton, with Hamilton following behind. Overall, out of the 36 census metropolitan areas, only 20 gave a report of having gains. Institutional buildings took the led with every section increase, permits for non-residential issued was totalled at $2.5 billion after increasing by 11.2 per cent.