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The overall seasonally-adjusted 4.8 percent increase in building
permits topped economists' forecasts for a 2 percent gain.
November was upwardly revised to a decline of 7.3 percent from
the initially reported 7.7 percent decline.
Residential permits rose 8 percent nationally, as the province
of Ontario saw a 15.7 percent jump in construction intentions
for single-family homes.
The Ontario government implemented a number of measures last
spring to rein in rampant price increases in Toronto and the
surrounding areas. While single-family building permits declined
in Toronto in December, that was offset by increases in the
nearby Barrie and Kitchener regions.
Plans for multi-family homes, which include condominiums and
townhouses, also drove permits higher, with construction
intentions led by British Columbia.
Nonresidential permits dipped 0.6 percent as a decline in plans
for commercial and institutional buildings offset a jump in the
industrial component.
On a non-adjusted basis, building permits rose 10.4 percent in
2017, the biggest increase since 2010, as both residential and
non-residential building plans increased.
(Reporting by Leah Schnurr; Editing by Nick Zieminski)
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