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.

FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.
Original Source:
Building permits, July 2021