The value of building permits issued by Canadian municipalities declined 7.7 percent to C$7.7 billion (US$6.1 billion) in November, the first decrease in three months, according to Statistics Canada. Nationally, the value of permits for all building components declined, with the exception of single-family dwellings.
The value of building permits for non-residential structures fell 12.3 percent to C$2.9 billion (US$2.3 billion) in November, following two monthly increases. The decline was spread over the three non-residential components (commercial, industrial and institutional).
As of November, Canadian municipalities had issued over C$100 million (US$79.8 million) more in building permits in 2017 compared to the 2016 total, led by higher construction intentions for universities, hospitals and manufacturing plants. Initiatives such as the Post-Secondary Institutions Strategic Investment Fund, announced in the 2016 Federal Budget, may have contributed to the increase in the value of university building permits in 2017, while multiple high-value permits helped to drive up the overall value for hospitals and manufacturing plants.
The value of permits for single-family dwellings remained at C$2.6 billion (US$2.1 billion) in November. After falling from a peak of C$2.9 billion (US$2.3 billion) in October 2016, the value of permits for single-family dwellings remained steady at approximately C$2.6 billion (US$2.1 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 percent to C$1.2 billion (US$1 billion), accounting for 46 percent of the national total.
The value of building permits in Quebec declined for all building components in November, falling 28.3 percent to C$1.2 billion (US$1 billion), the lowest value since February. The decrease came after the province registered a record high C$1.7 billion (US$1.4 billion) in October.
The decline in November mainly stemmed from lower construction intentions for multi-family dwellings, which fell 31.2 percent to C$468.6 million (US$374 million), following eight consecutive monthly increases.
The value of building permits in Quebec declined for all building components in November, falling 28.3 percent to C$1.2 billion (US$1 billion), the lowest value since February. The decrease came after the province registered a record high C$1.7 billion (US$1.4 billion) in October.
The decline in November mainly stemmed from lower construction intentions for multi-family dwellings, which fell 31.2 percent to C$468.6 million (US$374 million), following eight consecutive monthly increases.
