Canadian building permits rise 2.1 percent by value in March

Friday, 10 May 2019 22:12:27 (GMT+3)   |   San Diego
       

According to Statistics Canada, Canadian municipalities issued $8.1 billion worth of building permits in March, up 2.1 percent from February. The increase was attributable to higher construction intentions in Western Canada.

Four provinces reported increases in March, led by British Columbia with an increase of 12.8 percent (+$180 million). Meanwhile, all provinces east of Manitoba reported declines. The largest decrease was in Ontario, down 1.4 percent (-$43 million) due to lower construction intentions in the residential sector.

The national value of permits for non-residential buildings rose 7.9 percent in March, due to higher construction intentions for both institutional (+$175 million) and commercial (+$166 million) buildings. Gains in both of these components stemmed from Quebec. A high value permit for an addition to the Centre hospitalier de l'Université de Montréal drove the increase in the institutional component.

In the industrial component, the value of permits declined 15.6 percent in March (-$102 million). The decrease was largely the result of lower construction intentions in Quebec, where multiple high-value permits were issued in February.

Municipalities issued $4.8 billion worth of residential permits in March, down 1.5 percent from February. The decline was largely attributable to lower construction intentions in Ontario (-$102 million) and Quebec (-$99 million).

The value of single-family dwelling permits was down 5.0 percent (-$108 million) from the previous month. Seven provinces reported declines, with the largest decrease in Ontario (-$58 million).

Meanwhile, the value of multi-family dwelling permits increased 1.3 percent (+$37 million) in March. Six provinces posted increases, led by Manitoba and British Columbia.


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