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News » Canada » Building permits slip after January gains » published 12 Apr 2018

Building permits slip after January gains

Municipalities in Canada issued CA$8.2bn in building permits in February.

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The figure was down 2.6% on January, when there had been a 5.2% gain in January. Single-family homes as well as the commercial and institutional components saw lower levels of construction intentions in February, said Statistics Canada.

The value of permits for single-family dwellings decreased 1.6% (-CA$41.3m) in February, largely due to Ontario where there was a fall of 6.9% (-CA$84.2m) compared with January. The census metropolitan areas (CMAs) of Toronto (-13.6% or -CA$67.1m) and Oshawa (-64.7% or -CA$65.7m) posted the largest declines.

Nationally, the value of multi-family dwellings rose 1.0%. Six provinces posted increases in February, led by Alberta. The value of permits for multi-family dwellings in Alberta rose 46.9% (+CA$108.6m), nearly offsetting the 19.0% (-CA$109.3m) decline in Quebec. Despite a 4.2% decline in the province of British Columbia, the value of multi-family dwelling permits in the CMA of Vancouver rose 4.2% to CA$548.6m. Construction intentions for multi-family dwellings in Vancouver remained strong, posting a value above CA$500m for the third consecutive month.

Municipalities issued CA$2.9bn worth of building permits for non-residential structures in February, down 6.6% from January. The decline in the value of permits for the commercial and institutional components more than offset the increase in the industrial component.

The commercial component fell 8.7% to CA$1.5bn in February, following an 8.3% increase in January. Eight provinces posted declines. British Columbia reported the largest decrease (-20.2%) following a strong January.

Following a 19.2% gain in January, the institutional component decreased 9.7% to CA$754.3m in February, primarily stemming from lower construction intentions in Quebec, specifically in the CMA of Montréal. Leading up to this decline, multiple permits for educational structures pushed the January value for the CMA of Montréal to CA$158.6m, the highest value since August 2016.

The value of building permits issued for industrial structures increased 4.8% to CA$575.0m in February, following a 19.5% decline in January. Quebec posted the largest increase, followed distantly by Newfoundland and Labrador.

The total value of building permits decreased in six provinces in February. The largest declines were in Quebec and Ontario, while Alberta reported the largest increase followed by Manitoba.

The value of building permits declined in Quebec in February following two monthly increases. Every component except the industrial component and single-family dwellings declined. The value of permits for multi-family dwellings posted the largest decline (-CA$109.3m), stemming mainly from apartment building intentions for the CMA of Montréal.

The value of building permits declined 3.2% in Ontario to CA$3.3bn in February, following a strong January (+12.1%). Every component was down except the industrial component and multi-family dwellings. The value of permits for single-family dwellings posted the largest decline (-CA$84.2m or -6.9%).

Alberta reported an increase in every building component in February except for commercial and industrial structures. The residential sector rose by 20.5% to CA$838.9m in February, primarily a result of higher construction intentions for multi-family dwellings.

 

MPU

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This article was published on 12 Apr 2018 (last updated on 12 Apr 2018).

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