According to Statistics Canada, the value of building permits issued by municipalities was down 19.6 percent from October to $6.2 billion in November, falling below the $7-billion mark for first time since May 2015. The decrease was the result of widespread declines in both residential and non-residential sectors in most provinces, particularly Alberta.
The value of residential building permits fell 17.8 percent to $4.0 billion in November, the third decline in four months. In the non-residential sector, the value of permits decreased 22.7 percent to $2.2 billion in November, following slight gains the two previous months.
The value of building permits for multi-family dwellings fell 33.7 percent to $1.7 billion in November, the third decline in four months. The value of building permits for single-family dwellings, which was fairly stable at around $2.3 billion for the last three months, edged down 0.6 percent in November.
Following slight gains the previous two months, the value of non-residential building permits declined in all three non-residential components. The decrease was largely the result of institutional and commercial buildings and, to a lesser degree, industrial buildings.
The value of permits for institutional structures fell 32.6 percent to $688 million in November, following a 36.3 percent advance in October and a 16.4 percent gain in September. Lower construction intentions for special care institutions, government buildings and medical facilities largely explained the decline at the national level.
In the commercial component, the value of building permits was down 20.7 percent to $1.1 billion in November, a third consecutive monthly decline. Lower construction intentions for office buildings, retail outlets and recreational facilities accounted for the majority of the decrease.
Industrial building construction intentions were down 6.8 percent to $418 million in November, the fourth decline in five months. The decrease at the national level was largely a result of lower intentions for primary industry buildings and manufacturing plants.