Building permits rise in January

OTTAWA ― The value of building permits issued by Canadian municipalities increased by four percent to $9.2 billion in January, according to StatCan. Increases were reported in six provinces, led by British Columbia, where permits soared 52.1 percent to $2.2 billion. The residential sector reported strong gains in January, rising 12.7 percent from December 2019 to $5.8 billion. Permits for multi-family dwellings were up 17.1 percent to $3.4 billion in January, largely due to multiple projects in the Vancouver area. The total value of permits for single-family dwellings increased seven percent to $2.4 billion, mainly due to housing developments in Ontario (up $105 million) and Quebec (up $48 million).