The value of building permits in Canada rose 6.2 percent from a month earlier to CAD 8.1 billion in June 2020, following an upwardly revised 21.6 percent gain in the previous month, as the CAD 687 million Oakridge Centre mixed use redevelopment project in the city of Vancouver helped raise the total national value of building permits to a level comparable to pre-COVID levels. The total value of residential permits increased 7 percent to CAD 5.3 billion, with gains posted in six provinces. The value of permits for single-family homes advanced 6.6 percent to CAD 2.1 billion and for multi-family dwellings rose for the third consecutive month (7.3 percent to CAD 3.2 billion) due to major projects in the census metropolitan area of Vancouver. Also, non-residential permits went up 4.6 percent to CAD 2.7 billion, boosted by institutional permits (47.7 percent to CAD 841 million). On a quarterly basis, the value of permits dropped 17.4 percent compared to the same period of 2019.
Building Permits in Canada averaged 2528629.62 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 August of 2020. source: Statistics Canada
Building Permits in Canada is expected to be 7900000.00 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 8200000.00 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.