According to Statistics Canada, the total value of building permits issued by Canadian municipalities fell 27.3 percent to $6.7 billion in August, following three months of double-digit increases. In the non-residential sector, the total value of building permits decreased 40.6 percent to $2.5 billion in August, following four consecutive monthly gains.
After five consecutive monthly advances, the total value of permits in the residential sector declined 15.9 percent in August to $4.2 billion. Institutional building construction intentions fell 76.0 percent to $446 million in August, after increasing 29.6 percent in July and 149.3 percent in June.
In the commercial component, the value of permits fell 12.1 percent to $1.6 billion in August, following a 1.2 percent increase the previous month. The decline originated from lower construction intentions in warehouses and office buildings at the national level.
In the industrial component, the value of permits declined 15.2 percent to $454 million in August, marking the second consecutive monthly decline.
Building permits for multi-family dwellings decreased 28.6 percent in August to $1.8 billion, following a 42.8 percent increase in July. Construction intentions for single-family dwellings declined 2.4 percent to $2.3 billion in August, a second consecutive monthly decrease.
Nationally, municipalities approved the construction of 16,520 new dwellings in August, down 18.9 percent from July. The decline was mostly attributable to lower construction intentions for multi-family dwellings, which fell 26.3 percent to 10,320 dwellings. The number of single-family dwellings was also down, falling 2.7 percent to 6,200 units.