June 12, 2023
Summary
Total ICI building permit value were down 37.6% from March to April. Both the commercial and industrial sector permit values were down significantly compared to March, while the institutional sector experienced a sizable increase. Year-to-date values were up about 34% overall, with institutional sector permit values experiencing a 50% increase compared to last year.
Monthly Changes
Total ICI permit value decreased by 37.6% from March to April ($2.50 – $1.56 billion). Commercial building permit values declined by 45.5% ($1.33 billion – $723 million). This was a stark contrast to the massive 146% increase from February to March.
Industrial permit values declined by 69.2% ($800.8 – $246.6 million) after previously increasing for three months in a row.
In contrast to the other two sectors, institutional building permit values increased by 59% ($369.9 – $589 million).
Year-to-Date
Overall ICI building permit value was up around 34% compared to the same time last year. The largest percentage increase was in the institutional sector at 50%.
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FOR MORE INFORMATION, CONTACT:
Ali Ahmad
Research Analyst
Ontario Construction Secretariat (OCS)
180 Attwell Drive, Suite 360, Toronto, ON M9W 6A9
P 416.620.5210 ext. 222
aahmad@iciconstruction.com
