Value of Canadian building permits down 0.1 percent in July

Thursday, 06 September 2018 20:11:53 (GMT+3)   |   San Diego
       

According to Statistics Canada, Canadian municipalities issued $8.2 billion worth of building permits in July, down 0.1 percent from June. The decrease was mainly attributable to lower construction intentions in British Columbia.

The value of permits for residential buildings edged down 0.3 percent to $5.3 billion in July. The decline was mainly the result of lower construction intentions for multi-family dwellings, down 1.1 percent to $2.9 billion. The decrease in British Columbia (-$185 million) offset gains in seven provinces.

The value of building permits in the single-family component was up 0.6 percent to $2.4 billion. Four provinces registered increases, led by Ontario and Manitoba.

In July, municipalities approved the construction of 19,824 new dwellings (+1.2 percent), consisting of 14,660 multi-family units (+3.7 percent) and 5,164 single units (-5.2 percent).

The value of non-residential permits edged up 0.2 percent to $2.9 billion in July, mainly due to higher construction intentions in Quebec. Increases in the industrial component more than offset the declines for commercial and institutional buildings.

In the industrial component, the value of permits rose 16.0 percent to $726 million, a third consecutive monthly increase. The gain stemmed from higher construction intentions for transportation terminals and communication buildings, specifically a $100 million permit for Radio Canada in Quebec.

The value of commercial permits fell 5.0 percent to $1.6 billion in July, mainly on lower construction intentions for hotels, warehouses and office buildings. Values were down in four provinces, with the largest declines in Alberta and Quebec.

Within the institutional component, municipalities issued $600 million worth of building permits in July, down 2.0 percent from June. Of the three provinces that registered decreases in this component, Ontario reported the largest drop. Lower construction intentions for secondary schools mainly contributed to the decline.

 


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