According to Statistics Canada, municipalities issued $7.8 billion worth of building permits in November, down 0.1 percent from the previous month. The decline was largely the result of lower construction intentions in Alberta, following a spike the previous month due to impending changes to the Alberta Building Code.
In the residential sector, the value of building permits fell 1.6 percent to $5.1 billion in November, following three consecutive monthly increases. The value of non-residential building permits rose 3.0 percent to $2.6 billion in November, the fourth increase in five months.
In the single-family dwelling component, municipalities issued $2.8 billion worth of permits in November, down 2.0 percent from October. The value of permits for multi-family dwellings fell 1.0 percent to $2.4 billion in November, following four consecutive monthly increases.
Municipalities approved the construction of 19,498 new dwellings in November, up 0.5 percent from the previous month. The increase was attributable to multi-family dwellings, which rose 3.3 percent to 13,035 new units. Conversely, single-family homes fell 4.8 percent to 6,463 new units.
Construction intentions for institutional buildings were up 25.2 percent to $686 million in November, following two consecutive monthly declines. The gain was largely the result of higher construction intentions for educational facilities and nursing homes.
The value of industrial permits rose 10.1 percent to $404 million in November, a second consecutive monthly increase. The advance was mainly attributable to higher construction intentions for primary industry buildings, manufacturing plants and maintenance facilities.
In the commercial component, the value of building permits was down 6.1 percent to $1.5 billion in November. Lower construction intentions for hotels, office buildings and retail complexes contributed to the drop.