Saturday, September 21, 2019

Building permits issued by Canadian municipalities rise in July

 

 

Statistics Canada reports that the value of building permits issued by Canadian municipalities rose 3.0% to $8.3 billion in July, largely due to increases in multi-family and commercial permits. Gains were reported in five provinces, with over one-third of the national increase in British Columbia. Quebec reported the largest decrease, down 4.0% to $1.6 billion due to lower construction intentions in all components of the non-residential sector.

Multi-family permits up

The value of permits for multi-family dwellings rose in seven provinces, increasing 4.2% to $2.8 billion in July. The gain was led by Ontario (+$95 million) and Quebec (+$72 million), following declines the previous month in both provinces.

The value of permits for single-family dwellings nationally edged down 0.2%.

Increases in commercial permits

The largest gain was in commercial permits, which rose 6.7% to $2.0 billion, offsetting three consecutive months of declines. The increase was largely attributable to high-value permits for office buildings in the census metropolitan area of Vancouver.

Six provinces reported declines in the value of industrial permits, down 6.9% to $558 million.

Ontario permits continue to grow

Ontario issued a record high $3.5 billion in permits in July. This was the fifth consecutive monthly gain, moving the province $209 million or 6.3% higher than the same month a year earlier. Manitoba (+$56 million) and New Brunswick (+$27 million) also reported strong year-over-year gains.

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