Residential building permits rise in August: StatsCan

The total value of building permits in Canada increased 11.9% in August to $12.5 billion. Both the residential sector (+12.0% to $8.4 billion) and non-residential sector (+11.8% to $4.0 billion) saw strong gains, with Ontario causing much of the increase.

On a constant dollar basis (2012=100), the total value of building permits increased 10.0% to $7.5 billion.

Multi-family component pushes residential sector to record high

Residential permits in August increased 12.0% to $8.4 billion nationally. Gains in Ontario offset losses posted in seven provinces.

Construction intentions in the single-family homes component edged up 0.4%.

The value of building permits in the multi-family component sharply increased by 22.2%, largely due to Ontario (+85.3%). A $480 million permit for a luxury skyscraper in Toronto along with several other permits for apartments resulted in the largest recorded monthly value for the province.