Building permit values decline in November 2017: StatsCan
Jan. 10, 2018 – The value of building permits issued by Canadian municipalities declined 7.7% to $7.7 billion in November, the first decrease in three months. Nationally, the value of permits for all building components declined, with the exception of single-family dwellings.
Single-family dwellings hold steady
The value of permits for single-family dwellings remained at $2.6 billion in November. After falling from a peak of $2.9 billion in October 2016, the value of permits for single-family dwellings remained steady at approximately $2.6 billion throughout 2017.
In Ontario, the value of permits for single-family dwellings increased gradually over the previous five months. 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 the province rose 4.3% to $1.2 billion, accounting for 46.0% of the national total.
Quebec down in November following a strong October
The value of building permits in Quebec declined for all building components in November, falling 28.3% to $1.2 billion, the lowest value since February. The decrease came after the province registered a record high $1.7 billion in October.
The decline 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.
Residential update: Toronto, Montréal and Vancouver
Municipalities in the census metropolitan area (CMA) of Toronto issued $1.0 billion in residential permits in November, up 18.8% from the previous month and a second consecutive monthly increase. The value of permits for multi-family dwellings rose 30.1% to $532.4 million and the value of permits for single-family dwellings increased 8.6% to $496.3 million.
Municipalities in the CMA of Montréal issued $481.5 million in residential permits in November, down 26.6% from the record high in October. Building permits for multi-family dwellings fell 34.8% to $348.1 million, while permits for single-family dwellings increased 9.4% to $133.4 million.
In the CMA of Vancouver, the value of residential building permits decreased 21.0% to $408.9 million in November, the second consecutive monthly decline. The value of permits for multi-family dwellings fell 29.5% to $260.3 million, while the value of permits for single-family dwellings rose 0.2% to $148.6 million.