October 2006

The value of building permits surged in October to just over $6.0 billion, thanks to solid gains in both multi-family and commercial intentions.  The increase is up 6.1% from September 2006 figures of $5.7 billion.

This is only the second time that permits have surpassed the $6.0 billion mark.  The last time intentions saw these types of numbers was in December 2005, when permits totaled $6.3 billion. 

The largest gain was seen in non-residential permits which increased 9.1% to a record $2.4 billion in October.  The residential sector saw intentions totaling $3.6 billion, up 4.3% from September.  The increase is thanks entirely to the multi-family sector.  The value of single family permits actually saw a decline. 

The largest gains, dollar wise, occurred in British Columbia and Quebec. 

On a year-to-date basis, the cumulative value for the first 10 months of 2006 reached $54.7 billion up 10.3% from the same period in 2005.

The November building permit estimate will be released on January 10, 2007.

Previous release on building permits.

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