Building permits on the rise, but industrial hurting – February 2022
April 16, 2022 By Anthony Capkun
April 16, 2022 – The total value of building permits across Canada rose 21.0% to a record $12.4 billion in February 2022, reports Statscan, with British Columbia (+130.2%) leading the way.
Construction intentions in the residential sector were up 9.8%, while the non-residential sector jumped 43.2%, driven mainly by large hospital permits in British Columbia and Quebec.
Construction intentions in February for the residential sector rose to $7.5 billion at the national level, with nine provinces reporting gains.
Gains in multi-family permit values in British Columbia (+57.9%) reversed January’s decline and contributed to the 18.5% increase at the national level, along with the gains in seven other provinces.
The total value of single-family home permits rose 1.5% in February. Seven provinces reported increases.
The total value of non-residential building permits surged to $4.9 billion in February, largely reflecting large hospital permits in British Columbia and Quebec worth a combined $1.9 billion.
Construction intentions in the institutional component jumped 216.4% for the month, largely reflecting the $1.5-billion St. Paul’s Hospital project in Vancouver. The $439-million permit for the second phase of le nouveau complexe hospitalier du CHU de Québec also contributed notably to this component.
The value of commercial permits gained 5.6% in February at the national level, with six provinces reporting increases. A $112-million Wawanesa Insurance office headquarters project caused the value of commercial permits in Manitoba to jump 337.4%.
The total value of industrial building intentions fell 27.9%, mostly due to declines in Quebec (-44.8%) and Ontario (-28.8%).
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