Canadian Residential Building Permits Decline Slightly in April from March’s Record Setting Level

According to Statistics Canada (StatsCan), the total value of building permits in April 2021 were down -0.5% to $11.1 billion, following a record setting March. The minor setback reflects declines in the residential sector in British Columbia and Quebec, which outweighed national gains in the non-residential sector. Considering just the residential sector, the value of building permits fell -6.7% to $7.7 billion in April. Despite the decrease, this was the second highest value on record. British Columbia (-23.7%) and Quebec (-14.9%) accounted for most of this decline. The value of building permits for multi-family dwellings dropped -6.5% to $4.1 billion. Gains in Ontario and Alberta were not enough to offset decreases in British Columbia and Quebec, where several large permits had been issued (in both provinces) during the previous month. Eight provinces reported a decline in the value of permits issued for single-family dwellings, with the national total down -7.0% to $3.6 billion, mainly as a result of fewer new projects in Ontario and Quebec. The nonresidential sector is reporting that overall, the value of building permits in the non-residential sector climbed 17.4% to $3.4 billion.