Market news
08.03.2018, 13:37

Canadian municipalities issued $8.4 billion in building permits in January, up 5.6%

Canadian municipalities issued $8.4 billion in building permits in January, up 5.6% following a 2.5% rise in December. The value of permits for three components rose, while industrial buildings (-18.6%) and single-family dwellings (-1.3%) declined. The January increase was largely due to higher construction intentions for multi-family dwellings in Ontario.

The value of permits for multi-family dwellings in Ontario rose 71.0% (+$404.3 million) to $974.0 million in January, more than offsetting the 39.7% decline (-$374.7 million) reported the previous month. Nationally, apartments accounted for approximately three-quarters of the value of permits for multi-family dwellings in January, while row houses made up just under 18%. The rest of the multi-family dwelling component is comprised of permits for doubles such as semi-detached homes, and minor residential additions and renovations (permits under $50,000).

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