Value of Canadian building permits down 13.2 percent in March

Friday, 08 May 2020 19:43:06 (GMT+3)   |   San Diego
       

According to Statistics Canada, the total value of building permits issued by Canadian municipalities decreased 13.2 percent to $7.4 billion in March, with declines reported in seven provinces and two territories. The $1.1 billion national decrease was the largest since August 2014. This reflected notable drops in Ontario (-12.9 percent), Quebec (-18.1 percent) and British Columbia (-19.4 percent), which coincided with efforts to slow the spread of COVID-19.

The total value of residential permits decreased 13.1 percent to $4.6 billion in March. The value of permits issued for single-family dwellings fell 15.3 percent to $2.2 billion, with the largest percentage declines observed in Prince Edward Island (-31.8 percent) and Quebec (-27.0 percent). The province of Quebec shut down all non-essential business activities, such as construction, on March 24. Conversely, the only gains posted nationally in March were in New Brunswick (+2.3 percent) and the Northwest Territories (+3.0 percent).

The value of permits issued for multi-family dwellings was down 11.1 percent to $2.5 billion, with the largest declines seen in Ontario (-13.0 percent to $1.1 billion) and British Columbia (-24.4 percent to $389 million).

Seven provinces reported declines in the value of commercial permits issued, bringing the national total down 19.7 percent to $1.6 billion. The largest decline in commercial permits was in Quebec (-36.6 percent), which recorded its third consecutive monthly decrease.

The value of institutional permits (-15.7 percent to $602.2 million) was down in eight provinces, with Quebec (-37.0 percent) posting the largest decline.

Industrial permits (+14.9 percent to $583 million) were the only component to show an increase at the national level in March. This was driven by strong gains in Manitoba (+185.9 percent), reflecting several large permits issued in the Winnipeg metropolitan area.


Most Recent Related Articles

Value of Canadian building permits up 20.2 percent in May

Investment in Canadian building construction plunges 45.9 percent in April

Canadian new house prices up 0.1 percent in May

US construction survey shows activity returning to pre-pandemic levels

Canadian new vehicle sales down 50.9 percent in April