Ontario Contributed To More Than 45% Of Canada's Residential Permit Values In May

In May of 2023, Canada saw an increase in construction intentions, with the total value of building permits issued jumping 10.5% month-over-month to $10.5 billion. The non-residential sector drove the growth, with permit values rising 14.2% to $3.7 billion, led by the commercial component. Residential permits also increased 8.5% to $6.8 billion, driven by multi-family units. Ontario accounted for 45.8% of the nation's residential permits, while New Brunswick saw the most significant growth rate of 27.2%.

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