A good month for permits

July 19, 2018

Canadian municipalities issued $8.2 billion in building permits in May, a rise of 4.7% over April, but down marginally from May of 2017.

The residential segment represented $5.5 billion of the May 2018 figure, the second-highest monthly value on record. The multi-family dwelling component reached a record high, at $3.1 billion.

Overall, municipalities approved the construction of 21,344 new dwellings in May, a rise of 6.6% month-to-month, and almost 13% over May of 2017.

The value of non-residential building permits was on the decline in May, hitting $2.7 billion, a drop of 0.7% from April, and almost 8% from one year earlier. The bright spots in the non-residential sector came from the industrial and commercial segments. The value of industrial permits increased 10.6% over April, to $557 million, but were still off by 11% from May of 2017. Commercial permits were down 3% from April but were up almost 7% from May of last year.