The value of building permits in Canada jumped 20.2 percent from a month earlier to CAD 7.4 billion in May 2020, following a 15.4 percent plunge in the previous month and beating market expectations of a 15 percent rise. It was the largest increase in the value of building permits since March 2009, amid the easing of coronavirus construction restrictions in Ontario, Quebec and Prince Edward Island. The total value of residential permits advanced 18.7 percent to CAD 4.8 billion, as single-family homes rose by a record CAD 518 million (+37.5 percent) and the value of permits for multi-family dwellings increased 9 percent to CAD 2.9 billion, driven by projects in the Montréal and Vancouver census metropolitan areas. Also, the value of commercial permits was up 20.8 percent to CAD 1.5 billion in May, boosted by industrial permits (57.6 percent), commercial (20.8 percent) and institutional (2.8 percent).
Building Permits in Canada averaged 2521784.45 CAD Thousand from 1950 until 2020, reaching an all time high of 9595965 CAD Thousand in April of 2019 and a record low of 57056 CAD Thousand in November of 1951. This page provides - Canada Building Permits - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Value of Building Permits - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Statistics Canada
Building Permits in Canada is expected to be 7600000.00 CAD Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Building Permits in Canada to stand at 8180000.00 in 12 months time. In the long-term, the Canada Value of Building Permits is projected to trend around 8250000.00 CAD Thousand in 2021 and 8350000.00 CAD Thousand in 2022, according to our econometric models.