Building permit value rises 11% in December

The value of Canadian building permits issued in December totalled $6.8 billion in December, Statistics Canada reported Tuesday, up by 11.1 per cent from November.

That was its highest level since June 2007.

Statistics Canada said Tuesday the jump was driven mainly by increased plans for apartments and condos in Ontario and commercial buildings in Alberta.

The value of residential sector permits rose 16.1 per cent to $4.5 billion in a second consecutive monthly increase.

Major projects in Ontario pushed permits for multi-family dwellings up 28.9 per cent to $1.9 billion, the highest level since December 2005.

In the non-residential sector, the value of permits grew 2.8 per cent to $2.4 billion in December, following a 15.1 per cent drop in November.

Alberta and Quebec led the five provinces where the value of permits rose.

Industrial permits fall 24%

Single-family home permits reached $2.6 billion, up 8.1 per cent from November, with the biggest increases coming in Quebec and Alberta.

In the commercial component, the value of permits jumped 41.0 per cent to $1.6 billion in December.

The increase follows two monthly declines and was driven by higher construction intentions for office buildings and warehouse facilities in Alberta, as well as hotels in Ontario.

The value of industrial permits declined 24.2 per cent to $353 million in December. It was the second consecutive monthly decrease.

In the institutional sector, the value of permits declined 42.2 per cent to $402 million, for the second straight decline. Institutional permits peaked at more than $1 billion in October 2011.

The largest declines were in construction intentions for educational institutions in Ontario, health care facilities in Alberta, Saskatchewan and Manitoba, and government buildings in British Columbia.