Statistics Canada reports value of building permits up 3.4% in August

Statistics Canada says the total monthly value of building permits in Canada rose 3.4% in August to $11.9 billion, as gains in the non-residential sector offset modest declines in residential construction plans.

The agency says the total monthly value of non-residential permits rose 14.8% to $5.0 billion in August.

The increase came as permits were issued for hospital renovations in Toronto and North Vancouver, B.C., a new university building in Kelowna, B.C., a new correctional facility in Thunder Bay, Ont., and a new arena in Whitby, Ont.

On the residential side, the total monthly value of permits issued fell 3.7% to $6.8 billion in August as the value for permits for multi-unit construction intentions fell 9.5% to $3.9 billion. However, the value of single-family home permits rose 5.5% to $2.9 billion in August, marking the fourth consecutive monthly increase.

The indicator comes as politicians across the country look for ways to increase the pace of new home construction in a bid to help alleviate the housing shortage in Canada.

On a constant dollar basis, the total value of building permits was up 4.3% in August.

The Canadian Press

The Canadian Press is a national news agency headquartered in Toronto and founded in 1917.