Building permits across Canada saw a dip from both the prior month and prior year in December 2022. StatCan_eng | realestate realestatenews Canada buildingpermits
, the total value of building permits issued in December fell to $10.3B, a monthly decline of 7.3% and down 9.3% from a year prior.
Quebec contributed to much of the decline in the multi-family component , with permit values falling 43.4% after a “strong” November. In contrast, New Brunswick and Saskatchewan posted notable gains of 46.4% and 36.9%, respectively, in December. Canada-wide, permits to build single-family homes were down 3.9%.
Construction intentions in the non-residential sector slowed month-over-month in December, too, albeit by a more modest 5.3%. At $3.8B, total values were up 1.6% from a year prior, though. StatCan noted that the monthly decline of 24.1% seen in Ontario “more than offset” the gains experienced in seven other provinces.
Nationally, the total value of institutional building permits edged up 0.9% month over month in December. Although Ontario experienced a notable loss of 30.1%, significant gains were seen in Manitoba and Saskatchewan due to building permits for new hospitals. Quebec also experienced a marked monthly increase of 45.1%.On a quarterly basis, the total value of building permits fell 7.8% in Q4 2022 to $31B. Once again, the residential sector accounted for the majority of the decline, dropping 13.
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