The value of building permits in Canada increased 7.4 percent from a month earlier to CAD 8.7 billion in December 2019, rebounding from an upwardly revised 3.5 percent decline in the previous month and above market forecasts of a 2.3 percent gain. The value of residential permits advanced 6.8 percent to CAD 5.04 billion, as a rise the multi-family segment (15.9% to CAD 2.87 billion) more than offset a decline in single-family dwellings (-3.2% to CAD 2.2 billion). Additionally, the value of permits in the non-residential sector increased 8.3 percent to CAD 3.63 billion, driven by commercial permits (19.7% to CAD 2.0 billion) largely due to plans for the multi-use commercial development, "Royalmount"; and institutional permits (10.8% to CAD 1.0 billion, its highest level since September 2017), due to redevelopment of the Centre for Addiction and Mental Health in Toronto. Considering full 2019, the value of building permits went up 2.6 percent compared to 2018.
Building Permits in Canada averaged 2489001.73 CAD Thousand from 1950 until 2019, reaching an all time high of 9477516 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. source: Statistics Canada
Building Permits in Canada is expected to be 1.50 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 8150000.00 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, according to our econometric models.