Statistics Canada’s latest report reveals a robust 2.3% surge in the total worth of Canadian building permits, reaching an impressive $11.2 billion in October. This growth was primarily steered by advancements in the non-residential domain.

Measured against a constant dollar basis (2012=100), October witnessed a solid 2.2% rise, amounting to $6.4 billion in the total value of building permits.

The non-residential sector experienced a significant upswing, soaring by 5.3% to hit $4.1 billion in October. Notably, Ontario led this upturn, marking a substantial 16.0% climb to $2.0 billion, chiefly due to a remarkable surge in institutional construction intentions, notably a new hospital wing in Toronto.

While the industrial component recorded an 11.9% uptick to $973.8 million, the commercial aspect faced a second consecutive monthly decline, plummeting by 10.5% to $1.8 billion, following a peak of $2.9 billion in March.

October’s residential building permits saw a marginal 0.6% uptick, totaling $7.1 billion. Ontario, Alberta, and Quebec demonstrated gains, offsetting declines in other provinces. Year-over-year, residential construction intentions spiked by 16.1%.

Countrywide, 18,100 new multi-unit dwellings and 4,600 single-family homes received authorization.

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