The City of Moncton had its second-best construction year ever in 2023, issuing a total of $341 million in building permits. The total was only bested by the $366 million achieved in 2022, affirming the city's continued resilience and strong and sustained growth.

The standout success for 2023 was in residential development, accounting for more than 59 per cent of the year's permit activity, totalling $204 million across 332 permits. This has resulted in the addition of 1,177 new residential units to Moncton’s housing market, a significant contribution to meeting the city's growing housing needs.

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