Fewer multi-family homes hits value of building permits

The total value of building permits issued by Canadian municipalities decreased 2.4% from October to $8.1 billion in November. When compared with a year earlier, permits were down by 2.7%.

Monthly declines were reported in six provinces, with the largest decrease in Ontario (-5.7% to $3.2 billion). Quebec (+10.3% to $1.9 billion) offset some of this decline.

The value of residential permits fell 4% from October and by 6.9% from November 2018. The fall can be attributed to fewer multi-family permits being issued – down 11.3% from October and by 15.8% from November 2018.

The value of permits for single family dwellings reached $2.6 billion in November, a rise of 5.6% from October and 5.4% from the same month of 2018.

While the value of non-residential permits issued in November remained static month-on-month, when compared to the same period a year ago, it was up by 3.8%.

Big year-on-year increases in the value of permits issued in the industrial (42.6% to $753 million) and institutional (34% to $894 million) sectors made up for the 16.3% decline in the commercial sector, which fell to $1.69 billion in November.