Canadian Total Value of Building Permits Drop -3.9% in July

Statistics Canada (StatsCan) is reporting that the total value of building permits in Canada decreased 3.9% to $9.9 billion (CAD) in July. All provinces except British Columbia and Newfoundland and Labrador posted lower values, with the majority of the national decline reported in Alberta (-23.4%). Building permits fell -3.1% in the residential sector and -5.6% in the non-residential sector. On a constant dollar basis (2012=100), building permits fell 3.8% to $7.0 billion (CAD).

Seven provinces reported declines in the residential sector, led by Ontario (-10.5%). Single-family permits fell -9.6% in July, with two provinces showing growth. Ontario (-9.1%) contributed the most to the decrease. Construction intentions for multi-family units rose 2.7% in July. British Columbia posted an increase of 55.1%, which was driven by high-valued condo projects in the city of Surrey.

Non-residential permit values declined -5.6% to $2.9 billion in July, despite Ontario’s strong growth of 17.3%. Seven provinces were down, with Alberta reporting the largest decrease (-46.9%). Institutional permits decreased for a third consecutive month to $718 million, with eight provinces reporting lower values. The value of industrial permits was up 17.6% to $612 million, with half the provinces reporting growth.