Building permits rebound strongly in November

(Source: Statistics Canada Table 34-10-0066-01). Building permits, by type of structure and type of work.

The total value of building permits in Canada jumped 14.1 per cent to reach $11 billion in November. This was a significant rebound that comes on the heels of consecutive monthly losses in October and September, reports Statistics Canada.

The value of residential permits increased 13.7 per cent to $7.1 billion across Canada in November. For single-family homes, the value of permits increased more than seven per cent to go north of $3 billion. That segment had experienced four months of decline leading into November. Seven provinces posted gains in the single-family unit category, contributing to over $200 million of gains across the country.

Multi-family dwellings, which grew by 19 per cent to over $4 billion, had the biggest impact on residential permits. Ontario was the biggest mover with 21 permits for new condos and apartments valued at over $10 million. The total number of planned units in Ontario grew 60 per cent month-over-month and contributed to over $653 million of gains in the multi-family dwelling component, across Canada.

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