Industry intentions for large buildings and single family homes on the rise
According to the latest statistics from StatsCan, contractors took out building permits worth $8.0 billion in June, up 13.5% from May. The June increase was mainly due to higher construction intentions for institutional and industrial buildings in Quebec and commercial buildings in Alberta.
In the residential sector, the value of permits edged up 0.4% to $4.2 billion, a fourth consecutive monthly increase.
Municipalities issued $2.4 billion worth of building permits for single-family dwellings in June, up 5.5% from May. It was the third consecutive monthly advance. Increases were reported in six provinces, led by Alberta, with Ontario, Quebec and British Columbia following.
The total value of permits was up in five provinces in June, led by Quebec, with Alberta a distant second.
Quebec made substantial advances in construction intentions for institutional buildings, industrial buildings and, to a lesser extent, multi-family dwellings.