Building permits climb in August
October 5, 2012 by On-Site staff
According to a recent Statistics Canada report, construction intentions jumped 7.9 per cent to an overall value of $7.3 billion in the month of August after dropping 2.8 per cent in July. The increase was fuelled by a 25.2-per cent increase in the non-residential sector, to $3.2 billion, when compared to previous month.
The institutional component experienced its highest level since March 2011, up to $1.1 billion for the month of August, more than twice the value of intentions for the month of July. The largest gains in this component were experienced in Ontario, largely fuelled by increased construction intentions for medical facilities, educational institutions and nursing homes.
Building permits for the industrial component increased for the third consecutive month, up 26.2 per cent to $638 million. Ontario experienced higher construction intentions for utilities buildings and manufacturing plants, while five other provinces also experienced gains.
Construction intentions in the commercial sector fell by 8.5 per cent to $1.5 billion. The decrease stemmed from a drop in various commercial buildings across seven provinces. Including retail outlets, office buildings, recreational facilities and university residences.
Building permit values were up in 21 of 34 census metropolitan areas, with Hamilton, Edmonton, Calgary and Oshawa, Ont. experiencing the largest gains, while Vancouver and Montreal experienced the biggest declines.
The gains in the non-residential construction sector offset a 2.3-per cent decrease in the residential sector, which fell to $4.2 billion in the month of August.
To read the full report, click here.
Source: Statistics Canada.