Building Permits See Increase

The total value of building permits increased 6.8 per cent to $11.2 billion in November, says Statistics Canada. Seven provinces, led by Alberta (up 20.6 per cent), reported increases and construction intentions. Additionally, the residential sector rose 12 per cent while the non-residential sector declined 3.4 per cent. In the residential sector, the total value of multi-family permits went up 20.2 per cent after the previous month's 8.5 per cent decline. Permits for single family homes rose 3.3 per cent, reflecting strength in Ontario (up 4.2 per cent) and Quebec (up 8.3 per cent). In Nova Scotia, the value of single-family permits rose 35.9 per cent to a record value of $118 million in November. For non-residential, the value of institutional permits fell 49.2 per cent, construction intentions in the commercial component rose by 14.3 per cent, industrial permits rose 45.1 per cent, and despite notable growth in the commercial and industrial components, the non-residential sector declined 3.4 per cent overall in November.