Canadian contractors took out $6.8 billion worth of building permits in November, down 6.7 percent from October. This decline follows an 8.0 percent gain the previous month. Despite this monthly decrease, the total value of permits continued to show a slight upward trend on the strength of eight monthly increases since the beginning of 2013.
Lower
construction intentions, particularly for the residential sector in Quebec and Ontario, were behind the decline in November.
After two consecutive monthly increases, the total value of permits in the residential sector declined 7.6 percent to $4.1 billion in November. Lower residential
construction intentions were registered in nine provinces, led by Quebec, Ontario and Alberta. British Columbia was the lone province to show a gain in November.
Construction intentions in the non-residential sector fell 5.2 percent to $2.7 billion in November, following a 9.7 percent increase the previous month. Declines were recorded in six provinces, with Saskatchewan and Manitoba accounting for most of the decrease. Gains were recorded in four provinces, led by Ontario and Alberta.
Building permits for multi-family dwellings fell 8.7percent to $1.9 billion in November, following two consecutive monthly gains. Decreases were registered in nine provinces, with Quebec posting the largest decline, followed by Ontario. British Columbia was the lone province to post a gain.
Municipalities issued $2.2 billion worth of building permits for single-family dwellings in November, down 6.7percent from October. The decline followed two consecutive monthly gains. Lower
construction intentions were posted in every province except New Brunswick. Alberta and Ontario accounted for most of the national decrease in November.
Canadian municipalities approved the
construction of 18,173 new dwellings in November, down 3.6percent from October. The decline was attributable to both multi-family dwellings, which fell 3.9percent to 12,027 units, and single-family dwellings, which decreased 3.1percent to 6,146 units.
Canadian municipalities issued $354 million worth of institutional building permits in November, down 32.0percent from October. The value of institutional building permits was down in six provinces. Ontario accounted for much of the decrease, as a result of lower
construction intentions for government buildings and educational institutions. Declines were also registered for medical buildings in Alberta. All four of the Atlantic provinces posted gains in November.
The value of permits in the industrial component fell 2.2 percent to $455 million, marking a fourth consecutive monthly decrease. November's decline was mainly the result of lower
construction intentions for transportation-related buildings in Ontario and utilities buildings in both British Columbia and Newfoundland and Labrador.
In the commercial component, the value of permits rose 1.8 percent to $1.9 billion, following a 25.0 percent increase in October. Gains in Ontario, Quebec and Alberta were enough to offset the declines registered in the remaining provinces. Office buildings in Ontario and Alberta accounted for most of the advance.
The value of permits was down in eight provinces in November, led by Quebec and Saskatchewan.
The largest decline in the value of building permits was in Quebec. The decrease came mainly from lower
construction intentions for multiple-family dwellings and institutional buildings. In Saskatchewan, the decline came in the wake of a strong increase in October and was the result of lower
construction intentions for both residential and non-residential buildings.
The largest increase occurred in British Columbia, where a rise in multiple-family dwellings more than offset declines in every other component.