Building Permits In Canada Drop 7.7% In November Following Three Months Of Gains
The value of building permits issued by Canadian municipalities declined 7.7% in November to $7.7 billion, the first decrease in three months according to data from Statistics Canada.
More concerning may be the fact that the value of permits for all building components declined in November with the exception of single-family dwellings. The value of building permits for non-residential structures fell 12.3% to $2.9 billion in November, and the decline was spread across all non-residential components – commercial, industrial and institutional.
The lone bright spot among the November building permits was in the value of permits issued for single-family dwellings, which remained at $2.6 billion nationally during the month. The value of permits for single-family dwellings remained steady at approximately $2.6 billion throughout 2017.
The value of building permits issued in Quebec declined for all building components in November, falling 28.3% to $1.2 billion, the lowest value since February 2017. The decline throughout the province in November mainly stemmed from lower construction intentions for multi-family dwellings, which fell 31.2% to $468.6 million following eight consecutive monthly increases.
In Ontario, the value of permits for single-family dwellings increased gradually over the previous five months, noted Statistics Canada. These gains were offset by slight declines in Alberta and Quebec over the same period. Ontario led the rise in November, as the value of permits issued for single-family dwellings in that province rose 4.3% to $1.2 billion, accounting for 46% of the national total.