March 4, 2022 By Anthony Capkun
March 4, 2022 – Statscan reports the total value of building permits decreased 8.8% to $10.1 billion in January 2022.
The residential sector fell 11.6% to $6.7 billion, while the non-residential sector declined 2.7% to $3.4 billion.
The multi-family component really dragged down the residential sector (-18.5%), while intentions for single-family homes decreased by 3.8%. Most of the declines were in Ontario and British Columbia.
The commercial component decreased by 10.2% in January, pulling down the entire non-residential sector.
Ontario and British Columbia, again, reported the largest declines in this sector. In BC, the decline signified a return to more normal levels following a strong December, says Statistics Canada.
Nationally, the decline in commercial construction intentions was partially offset by a 15.2% increase in the industrial component.
Construction intentions in the institutional component were slightly lower in January (-2.6%) compared with the value in December.
Declines in six provinces were mostly offset by strong growth in Ontario (+68.4%), reflecting a $102-million nursing home permit issued in North Bay.
Print this page