Building Permits, August 2015, published October 7

Posted by on Oct 8, 2015 in Featured | Comments Off on Building Permits, August 2015, published October 7

Municipalities issued $7.5 billion worth of building permits in August, down 3.7% from July but 15.1% higher than in August 2014.    
Five provinces reported an increase in permits over a year ago.  Ontario recorded a 56.3% year-over-year gain while British Columbia  posted a 35.5% increase.  The largest annualized losses occurred in Newfoundland and Labrador (-57.0%) and Alberta (-21.9%).  Quebec reported a 5.2% loss.

Builders took out residential building permits worth $4.8 billion in August, down 5.1% from July but 16.8% higher than in August 2014.  Six provinces reported an annualized growth rate for residential permits: Prince Edward Island led the way (+101.0% followed by Ontario  (+59.9%) and British Columbia  (+21.9%).  Quebec posted a 1.1% gain.  Double-digit annualized decreases occurred in four provinces with the steepest declines occurring in Saskatchewan (-37.0%) and Manitoba (-21.7%).

Municipalities issued permits worth $2.3 billion for multi-family dwellings in August, down 8.3% from July but 33.6% higher than in August 2014.  Higher month-over-month construction intentions for projects in Ontario were mainly responsible.  The largest decline was reported in British Columbia.  Permits for single-family units amounted to $2.4 billion, down 1.9% from July, but 4.5% higher than in August 2014.  The largest monthly advances were posted in Quebec and Saskatchewan while Ontario and Alberta reported the largest losses.

Municipalities approved 18,709 new dwellings in August, down 4.6% from July but 13.3% higher than in August 2014.  There was a 2.4% monthly decrease and a 1.8% annualized loss in the number of single-family units, which totaled 6,034.  There  was a 5.6% monthly decline but a 22.2% annualized increase in the number of multi-family units approved, which totaled 12,675.

The value of non-residential permits in August fell 1.3% from July to $2.8 billion but increased 12.3% from August 2014.  From July to August, industrial permits fell 7.9% to $467 million but were up 3.7% from August 2014; institutional permits dropped 4.3% from July to $631 million but were up 27.3% from a year earlier; while commercial sector permits gained 1.8% from July to $1.7 billion, and were up 10.0% from August 2014.  The institutional downturn came mainly from decreased construction intentions, primarily in Quebec, Manitoba, Ontario and Saskatchewan.  Alberta and British Columbia posted the largest gains.  The monthly industrial decrease mainly resulted from lower construction intentions for utilities and transportation buildings.  Decreases in four provinces, mainly Alberta and Quebec offset increases in the remaining provinces, notably Saskatchewan and Ontario.  Commercial construction increases in three provinces, led by Ontario, offset decreases in the other provinces, mainly Alberta, Saskatchewan and Quebec.