OTTAWA – Statistics Canada says municipalities issued $7 billion worth of building permits in January, up 8.5 per cent from December.
The agency says the increase in January came from higher construction intentions in the residential sector, which more than offset a decline in the non-residential sector.
Gains were posted in every province in January, except Quebec, with Alberta, British Columbia and Ontario reporting the largest increases.
After two consecutive monthly decreases, construction intentions for residential dwellings rose 26.3 per cent to $4.6 billion, with gains in all provinces.
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The increase was primarily driven by a “huge” 26.3 per cent monthly rise in residential building permits, economist at CIBC said.
While single family dwelling permits increased by 16% on the month, multiple-dwelling units — condos, townhouses and semidetached — ran at a “monster” 42.8% monthly rate.
In the non-residential sector, the value of permits fell 14.6 per cent to $2.4 billion, following a 5.4 per cent increase in December.
Decreases in Quebec and, to a much lesser extent, New Brunswick offset gains posted in the other provinces.
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