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<\/a><\/p>\nBuilding permits, November 2024 (Source: Statistics Canada, Table 34-10-0285-01, Building permits, by type of building and type of work.)<\/p>\n<\/div>\n
The total value of building permits issued in Canada decreased by $739.5 million in November, falling to $11.7 billion, reports Statistics Canada. The 5.9 per cent dip was a second consecutive monthly decline, but permits remained 5.1 per cent higher than November of 2023, thanks to strong gains in two of three non-residential segments.<\/p>\n
On the residential side, the total value of permits decreased by $588.1 million, or 7.5 per cent, in November, coming in at $7.2 billion. A more than half-billion-dollar drop in multi-unit construction intentions drove the decrease, although the single-family component also contributed to the decline.<\/p>\n
Across Canada, 17,300 multi-family dwellings and 4,700 single-family dwellings were authorized in November, representing a 15 per cent decrease in the total number of units approved for construction compared to October. The 12-month total number of units authorized from December 2023 to November 2024 rose 2.4 per cent to 273,300, however, pacing the building sector past the 267,000 units authorized over the same period one year earlier.<\/p>\n
It was another set of mixed numbers in the non-residential sector. The combined ICI segments weathered a 3.2 per cent drop in November, coming in at $4.5 billion, $151.4 million lower than October. A sizable drop in Ontario was partially offset by gains in British Columbia, Quebec, Prince Edward Island and four other provinces. Overall, the industrial component fell more than 20 per cent on the month to land at $901 million, while the institutional and commercial components increased to come in at $1.6 billion and $2.1 billion, respectively.<\/p>\n
Compared to November of 2023, the industrial segment was down 2.2 per cent, the institutional segment was up 10.6 per cent, and the commercial segment was up 18.6 per cent.<\/p>\n
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