Value of Building Permits Declined 1.5% in October

Dec 9, 2019

The total value of building permits issued by Canadian municipalities decreased 1.5% to $8.3 billion in October. Declines were reported in five provinces, with the largest decrease in British Columbia (-21.2% to $1.3 billion). Quebec offset some of this decline, with the value of building permits in that province rising 12.3% to $1.7 billion.

Residential permits down

The total value of residential permits fell below $5 billion in October for the first time since March 2019. The value of permits declined for both single (-2.9%) and multi-family (-3.4%) dwellings.

Institutional permits up

The value of institutional permits rose 24.9% to $765 million in October, largely due to gains in Manitoba (+$79 million) and Ontario (+$72 million).

The value of commercial permits decreased 5.3% to $2.0 billion. Gains were reported in eight provinces, led by Quebec (+$161 million), but this was not enough to offset a sizeable decline in British Columbia (-$317 million).

Industrial permits decreased 1.1% to $604 million.

Manitoba permits reach record high

Manitoba reported gains in all categories of permits in October, with the total value increasing 74.3% to a record high of $438 million. This increase was largely attributable to high value permits issued in Winnipeg. The mixed-use development True North Square drove gains in multi-family and commercial permits. Institutional permits reached their highest value since April 2003, largely due to an expansion at Red River College. Major upgrades to a water treatment plant in Brandon significantly contributed to the value of industrial permits, which more than doubled compared with September.

Source: Statistics Canada, www150.statcan.gc.ca/n1/daily-quotidien/191209/dq191209a-eng.htm