Canada’s building permit rose by 76.1pc in April to C$11.10bn ($9.1bn) compared to C$6.3bn in the same month last year, but dropped by 0.5pc from C$11.16bn in March, according to Statistics Canada (StatCan).
The country’s residential units’ permits rose by 86.1pc in April to C$7.7bn compared to C$4.1bn in the same month of 2020 and fell by 6.7pc from C$8.2bn from the previous month. Its non-residential permits grew by 57pc to C$3.3bn on an annual basis from C$2.1bn and increased by 17.4pc from C$2.8bn in March.
Under residential units, permits for single units surged by 159.8pc to C$3.5bn in April from C$1.3bn on an annual basis and dropped by 7pc from C$3.8bn on a monthly basis. Permits for multiple units grew by 49.4pc to C$4.1bn from C$2.7bn during the same annual period under review and fell by 6.5pc from C$4.4bn in March.
Under non-residential units, permits for industrial property rose by 55.5pc to C$592.2mn in April from C$380.9mn in April 2020 and fell by 13.2pc from C$682.3mn in March. Commercial properties increased by 56.4pc to C$1.8bn in April from C$1.2bn on an annual basis and grew by 28.7pc from C$1.4bn in March. Institutional permits rose by 59.5pc to C$909.8mn in April compared to C$570.3mn in April last year and climbed by 23.1pc from C$738.9mn in March, according to StatCan.
($1=C$1.21)