Canada's total value of building permits fell by 9.3% in March

In March, Canada's total value of building permits fell by 9.3% to a value of $1.7 billion (CAD) due to the non-residential sector, which was down -by 29.5% to $3.7 billion, and on a constant dollar basis, the total value of building permits was down by 11.5% to $7.6 billion.
The total value of non-residential sector permits fell by 29.5% in March due to the institutional component declining 58.5%, returning to more normal levels after two large hospital permits were issued in February.
The residential sector saw a drop of 1.0% in Q1 of 2022 compared to Q4 of 2021, with a decrease in multi-family permits of 3.0% more than canceling a slight gain in single-family construction intentions of 1.3%.
However, in March, residential permits grew by 4.7% to $7.9 billion nationally and construction intentions for single-family homes were up 3.3%, reaching the highest value since March 2021, with Ontario registering the largest gain of over 12.0%.
The value of multi-family building permits grew by 6.0% nationally, helped by high-value projects throughout the country.

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