StatsCan Building Permits reports: October 2020

Municipalities issued building permits worth $8.2 billion in October, down 14.6% from the previous month. September’s peak was the second highest value on record, with October’s results more in line with recent months.

Residential sector continues to show strength despite October declines

Although the total value of residential permits decreased 5.9% to $5.7 billion in October after a record high in September, the value of residential permits continued to show strength. Excluding Ontario (-9.4%) and British Columbia (-12.0%), the rest of the country reported a slight increase for the month.

Following five consecutive monthly gains throughout the pandemic, permits issued for single-family dwellings declined 2.2% to $2.7 billion in October. Declines were reported in three provinces: Ontario (-8.7%), Newfoundland and Labrador (-8.0%) and New Brunswick (-3.4%). Nova Scotia posted the largest gain (+26.0%) as the city of Halifax cleared up a previous backlog of permits.

Permits issued for multi-family dwellings dropped 9.0% to $3.0 billion, with Ontario (-10.0%) and British Columbia (-18.2%) recording the most significant declines. Conversely, Nova Scotia (+79.5%) reported the largest increase as Halifax also cleared a backlog of permits for multi-family dwellings.

To explore the impact of COVID-19 on the socioeconomic landscape, please visit the Canadian Economic Dashboard and COVID-19.