In August, Canada saw a notable uptick in the total monthly value of building permits, with a 3.4% increase, reaching a substantial $11.9 billion. This growth was primarily fueled by a robust performance in the non-residential sector, which managed to offset slight declines in residential construction plans.

Looking at the figures from a constant dollar perspective (2012=100), the total value of building permits surged by 4.3% to $6.9 billion in August, highlighting the stability of this upward trend.

On the residential front, there was a modest decline of 3.7% in the total monthly value of residential permits, which amounted to $6.8 billion in August. The dip was largely influenced by weaker intentions in multi-unit construction across Ontario, Manitoba, Quebec, and Nova Scotia. However, this decline was cushioned by monthly gains in the value of single-family home permits, which witnessed a 5.5% increase to $2.9 billion, marking the fourth consecutive monthly rise in this category.

When considering the impact of construction cost fluctuations, the value of single-family home permits stood at $1.5 billion in August. This figure remains below the pre-COVID-19 monthly averages of 2019, which were $1.8 billion.

In the non-residential sector, there was an impressive 14.8% increase in the total monthly value of permits, reaching $5.0 billion in August. The bulk of these gains were concentrated in Ontario and British Columbia, with notable high-value permits issued for hospital renovations, a new university building, a correctional facility, and a new arena.

These statistics reflect a dynamic and evolving construction landscape in Canada, with varying trends in residential and non-residential sectors.

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