In November 2023, Canada experienced a notable 3.9% decrease in the total monthly value of building permits, dropping to $10.9 billion according to Statistics Canada. This trend was consistent across various types of building components. Notably, the decline was also evident when measured in constant dollars (based on 2017 values), with the total value falling to $6.8 billion.

Despite positive growth in residential construction intentions across eight provinces, the overall value of residential permits saw a 2.8% reduction, totaling $7.0 billion. Significant decreases in British Columbia (19.4% drop) and Quebec (17.3% drop), particularly in multi-unit constructions, overshadowed the gains in other regions. Conversely, the Atlantic provinces showed a robust increase of 30.0% in residential permit values, reaching $421.8 million, a record high for the first 11 months of the year. The Prairie provinces also hit their peak for the year at $1.4 billion, a 9.8% rise from October, while the territories and Ontario saw more modest increases.

Non-residential building permits weren’t spared either, witnessing a 5.8% decline from October to $3.9 billion in November. This downward trend affected all non-residential sectors, with commercial components seeing a continued decrease for the third month in a row, falling by 3.5%. Since reaching a record high in March 2023, commercial permit values have been on a downward trajectory, with November’s $1.7 billion representing a 16.2% year-over-year decrease. Overall, commercial construction intentions were down 18.2% from the previous year, contributing to a 10.1% decline in the total value of non-residential permits.

This data signifies shifting dynamics in Canada’s construction industry, reflecting both regional variations and broader market trends.

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