Building Permits, May 2015, published July 8

Posted by on Aug 7, 2015 in Featured | Comments Off on Building Permits, May 2015, published July 8

Municipalities issued $6.7 billion worth of building permits in May, down 14.5% from April and 3.6% lower than in May 2014.    

Two provinces reported an increase in permits over a year ago.  British Columbia recorded a 21.6% year-over-year gain while Ontario posted a 6.4% increase.  The largest annualized losses occurred in Manitoba (-53.2%) and Newfoundland and Labrador (-39.5%).   Quebec’s loss from May 2014 was 7.1%

Builders took out residential building permits worth $3.9 billion in May, down 13.5% from April and 3.7% lower than in May 2014.   Four provinces reported an annualized growth rate for residential permits: Nova Scotia led the way (+18.9%) followed by Saskatchewan (+7.6%).   Ontario’s year-over-yea gain was 3.1% .  Double-digit annualized decrease occurred in five provinces.  Manitoba experienced the largest lose (-40.3%).  The next largest loss was recorded in Newfoundland and

Municipalities issued permits worth $1.6 billion for multi-family dwellings in May, down 22.9% from April and 10.1% lower than in May 2014.   Month-over-month declines occurred in eight provinces. The only gains occurred in New Brunswick and  British Columbia.  Permits for single-family units amounted to $2.3 billion, down 5.5% from April, but 1.3% higher than in May 2014.  Monthly decreases were posted in five province, with Ontario accounting for the largest decline.

Municipalities approved 15,381 new dwellings in May, down 14.8% from April and 11.5% lower than in May 2014.  There was a 2.8% monthly decrease and a 7.1% annualized loss in the number of single-family units, which totaled 5,662.  There  was a 20.6% monthly decline and a 13.8% annualized decrease in the number of multi-family units approved, which totaled 9,719.

The value of non-residential permits in May fell 16.0% from April to $2.8 billion and decreased 3.5% from May 2014.  From April to May, industrial permits fell 15.6% to $408 million and were down 10.2% from May 2014; institutional permits decreased 34.0% from April to $867 million but were up 41.7% from a year earlier; while commercial sector permits fell 0.4% from April to $1.5 billion,  and were down 17.2% from May 2014.  The institutional loss came mainly from decreased construction intentions in four provinces: with Ontario accounting for most of the monthly decrease.   The industrial decrease mainly resulted from lower construction intentions for utilities and transportation-related buildings.  Declines were recorded in six provinces: Ontario and Newfoundland and Labrador had the greatest losses.  The largest gains were recorded in Alberta and Quebec.