Value of building permits climbs to $6.9B: Stats Can

OTTAWA -- Statistics Canada says the total value of building permits issued by Canadian municipalities rose 11.3 per cent to $6.9 billion in December.

See Full Article

The agency says permits for multi-family homes in Quebec, Ontario, British Columbia and Alberta were the main reason for the increase from November.

The value of permits issued for the residential sector grew by 16.3 per cent to $4.7 billion in December, with gains in every province except Saskatchewan.

The value of building permits for multi-family homes rose 39.1 per cent to $2.3 billion in December, while permits for single-family homes edged down 0.1 per cent to about $2.3 billion.

Non-residential building permits increased 2.5 per cent to $2.3 billion as an increase in the value of commercial permits more than offset decreases in the institutional and industrial sectors.

Permits for commercial buildings rose 14.6 per cent to $1.3 billion in December, while the industrial sector dropped 3.2 per cent to $405 million and institutional construction permits fell 13.6 per cent to $594 million.

The total value of building permits in 2015 totalled $85.0 billion, unchanged from 2014, as an increase in residential construction plans rose 4.4 per cent, offset by a 6.3 per cent drop on the non-residential side.



Advertisements

Latest Economic News

  • Asian markets mostly higher after Wall Street sinks

    Economic CTV News
    BEIJING -- Asian stock markets rose Tuesday after Wall Street sank on worries that the Trump administration might not do as much for businesses as once thought. KEEPING SCORE: Tokyo's Nikkei 225 gained 1 per cent to 19,174.56 and Hong Kong's Hang Seng advanced 0.5 per cent to 24,317.93. Source
  • American Airlines buys stake in China Southern Airlines

    Economic CTV News
    BEIJING -- American Airlines has agreed to pay US$200 million for a stake in China Southern Airlines, one of China's three major state-owned carriers, in a bid for a bigger share of the country's growing travel market. Source
  • Sask. city pays Domtar $5.1M over tax assessment dispute

    Economic CTV News
    PRINCE ALBERT, Sask. - City council in Prince Albert, Sask., has authorized a $5.1 settlement with Domtar in a tax dispute over the valuation of a pulp mill Domtar purchased from Weyerhaeuser in 2006. Domtar had argued the assessment of its property was too high for 2009 and 2010 and requested a refund. Source
  • Ontario promises housing affordability measures in the spring budget

    Economic CTV News
    TORONTO -- Ontario Finance Minister Charles Sousa confirmed Monday he plans to include housing affordability measures in his upcoming budget. Premier Kathleen Wynne has said her government is working on a "comprehensive set of plans," to deal with rising home prices in the Greater Toronto and Hamilton Area (GTHA), as well as rising rental rates. Source
  • Home Capital terminates CEO Martin Reid

    Economic CBC News
    Home Capital Group Inc. has terminated its president and CEO Martin K. Reid, effective immediately. Kevin P.D. Smith, chair of the board of directors, said in a statement Monday that the Toronto-based mortgage lender requires leadership that can bring a renewed operational discipline, emphasis on risk management and controls, and focus on improving performance. Source
  • B.C. First Nation gives nod to proposed LNG export facility

    Economic CTV News
    VANCOUVER -- A First Nation on Vancouver Island has approved a proposed liquefied natural gas export facility on its traditional territories. Leaders of the Huu-ay-aht First Nation and the CEO of Vancouver-based Steelhead LNG held a joint news conference in Vancouver on Monday to announce what Chief Robert Dennis said was the First Nation's "official entry into the international business world. Source
  • Officials gear up to assign infrastructure cash or lose control over its spending

    Economic CTV News
    OTTAWA - Provincial governments have been warned that they have until this time next year to start assigning billions in infrastructure cash to eligible projects, or else they could lose control over how it can be spent. Source
  • B.C. appeal court rules against Burnaby in bylaw battle with Trans Mountain

    Economic CTV News
    VANCOUVER -- A legal battle between the City of Burnaby and the Trans Mountain pipeline expansion has ended with the British Columbia Court of Appeal ruling the National Energy Board can override municipal bylaws. The fight began in 2014 when Trans Mountain was set to begin field studies on Burnaby Mountain, which required it to cut down trees, drill boreholes and operate heavy machinery -- activities that violate the city's bylaws. Source
  • Finance minister to tout Canada-U.S. trade to U.S. governors and mayors

    Economic CTV News
    CALGARY -- Canada's finance minister says he intends to head south of the border next week to reinforce the importance of Canada-U.S. trade. "Our approach was to be deeply engaged with the new administration from Day 1 . Source
  • Heroux-Devtek stocks drop after USAF rejects bid for new contract

    Economic CTV News
    LONGUEUIL, Que. - Heroux-Devtek Inc. shares hit a 52-week low Monday after the landing gear maker said its bid for a new contract with the U.S. military was rejected and work under an existing contract will be phased out within two years. Source