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Canada April Building Permits  Reach Highest Value On Record

CANADA DATA
  • Building permits +20.5% to +CAD12.8b MOM, the quickest gain since May 2020 and the highest level on records that go back to Dec 2017.
  • April residential building permits +21% to +CAD8b; +25.7% YOY.
  • Non-residential +19.6% MOM to +CAD4.8b; +31.8% YOY.
  • Growth in residential and non-residential was driven by BC which posted a record high in multi-unit housing permits.
  • StatsCan: "Despite a strong month, the 12-month cumulative total of 267,700 units authorized from May 2023 to April 2024 saw little change."
  • Federal budget allocated CAD8.5b to housing in an attempt to increase supply.

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