, the total value of building permits issued in December fell to $10.3B, a monthly decline of 7.3% and down 9.3% from a year prior.
Quebec contributed to much of the decline in the multi-family component , with permit values falling 43.4% after a “strong” November. In contrast, New Brunswick and Saskatchewan posted notable gains of 46.4% and 36.9%, respectively, in December. Canada-wide, permits to build single-family homes were down 3.9%.
Construction intentions in the non-residential sector slowed month-over-month in December, too, albeit by a more modest 5.3%. At $3.8B, total values were up 1.6% from a year prior, though. StatCan noted that the monthly decline of 24.1% seen in Ontario “more than offset” the gains experienced in seven other provinces.
Nationally, the total value of institutional building permits edged up 0.9% month over month in December. Although Ontario experienced a notable loss of 30.1%, significant gains were seen in Manitoba and Saskatchewan due to building permits for new hospitals. Quebec also experienced a marked monthly increase of 45.1%.On a quarterly basis, the total value of building permits fell 7.8% in Q4 2022 to $31B. Once again, the residential sector accounted for the majority of the decline, dropping 13.
Source: Loan Digest (loandigest.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Government of Canada is advancing Canada’s position as a global leader in innovationIt has become clear that we can’t keep doing things the same old way; we need to make sure Canadians benefit from their own ingenuity.
Source: TheHillTimes - 🏆 11. / 79 Read more »
Everything Coming to Netflix Canada in February 2023 | Elle CanadaFrom a new rom-com starring ReeseW and aplusk, to a Season 3 of OuterBanks, here's what's coming to netflix Canada this month.
Source: ElleCanada - 🏆 27. / 68 Read more »
Ottawa police stop 38 drivers with expired permits in two-and-a-half hour blitzOttawa police nabbed one driver every four minutes for having expired vehicle permits during a two-and-a-half hour period at one intersection. What a complete waste of police resources So? It's turning into a cash bonanza for Police, this was a one time refund cheque as a vote buy for Ford, that is turning into a nightmare for those who didn't get the memo, or set a reminder that they still have to renew every year, is the fine more than the renewal fee was? Now imagine if you attach that to a pole... And I don't know maybe attached a camera to it... Called it something like a... License trap camera. Then sent out notices of infringement. Obviously infringement and labour cost is astronomically high. So let's automate.
Source: ctvottawa - 🏆 29. / 67 Read more »
P.E.I. government releases order freezing new development in buffer zones | SaltWireICYMI: The order prohibits new developments within shoreline buffer zones. However, it does not apply to permits for developments in buffer zones issued prior to Dec. 1, 2022.
Source: SaltWire Network - 🏆 45. / 63 Read more »
Backlog of airline complaints balloons by 6,395 since December travel chaos: Canadian Transportation AgencyThe fallout from the December travel chaos continues, as the backlog of complaints made to the Canadian Transportation Agency keeps growing. As of Jan. 31, there have been 6,395 new complaints made to the agency since Dec. 21. Number of complaints resolved: 0. Number of fines issued: 0. Not sure what OmarAlghabra is hired for?! Seriously! This has been for couple years already with no improvement
Source: CTVCalgary - 🏆 26. / 68 Read more »
Peru's mining and hydrocarbons sector expands in December as copper production up 19.2%A roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »