Building permit values up in February
Building permit values issued by Canadian municipalities totalled just over $8.167 billion in February 2018, up approximately 6.5% from over $7.667 billion in February 2017; but were down 2.6% when compared to January 2018 ($8.384 billion), according to recently released data from Statistics Canada.
The increase in permit values over the 12-month period was fuelled by an 11.6% increase in the non-residential sector from $2.5732 billion to $2.8714 billion; and a 4.0% increase in the residential sector from $5.0939 billion to $5.2959 billion.
The largest gains in the non-residential sector were experienced by Ontario (31.4%, from $928.1 million to $1.2192 billion); Quebec (24.4%, from $502.6 million to $625.2 million); and British Columbia (27.5%, from $284.5 million to $362.8 million);
The largest declines were experienced in New Brunswick (-55.9%, from $66.8 million to 29.5 million); Saskatchewan (-54.7% or $116.8 million to $54.7 million); Manitoba (-26.3%, from $126.7 million to $93.4 million); and Nova Scotia (-27.0%, from $41.0 million to $29.9 million).
There were also declines in non-residential permit values in Alberta, Newfoundland and Labrador, P.E.I., The Yukon and The Northwest Territories.
Building permit values for the industrial sector were up 48.1% over the 12-month period from $388.3 million to $575.0 million; while institutional permits increased 10.0% (from $685.6 million to $754.3 million), and commercial permits were up 2.9% (from $1.4993 billion to $1.542.1 billion).
The largest gains in building permit values over the 12-month-period (February 2017 to February 2018) for the residential sector were experienced by Alberta (25.1%, from $670.6 million to $838.9 million); Quebec (6.6%, from $767.5 million to $818 million); Manitoba (14.6%, from $156.7 million to $179.7 million); British Columbia (4.0%, from $1.0566 billion to $1.0993 billion); Newfoundland and Labrador (40.8%, from $29.6 million to $41.7 million); and P.E.I. (86.7%, from $11.9 million to $22.1 million).
The largest declines were experienced in Nova Scotia (-41.1%, from $122.5 million to $72.2 million); Saskatchewan (-23.1%, from $98.5 million to $75.7 million); Ontario (-0.9%, from $2.118 billion to $2.098.8 billion); and New Brunswick (-25.9%, from $57.8 million to $42.8 million).
There were also declines in residential permit values in The Yukon and The Northwest Territories.
Building permit values for single-family dwellings in Canada over the 12-month period were up 1.9% (from $2.547.7 billion to $2.5973 billion), while multi-family dwellings experienced gains of 6.0% (from $2.5463 billion to $2.6986 billion).
Census metropolitan areas (CMAs)
Census metropolitan areas experienced an overall increase in building permit values of 2.3% over the 12-month period (February 2017 to February 2018). This was largely led by gains in Montreal (22.7%, from $645.0 million to $791.5 million); Edmonton (28.0%, from $327.9 million to $419.8 million); Calgary (10.7%, from $456.0 million to $504.6 million); Ottawa (18.3%, from $190.2 million to $225.1 million); and Victoria (36.5%, from $83 million to $113.3 million).
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