July drop in total national building permits led by B.C.
On a positive note, the value of permits issued for single-family homes across the country increased by 3.9%.
Compared with the previous month, the total value of building permits across Canada fell 3% to $7.8 billion in July, led primarily by declines in British Columbia (-34.2% to $1.2 billion), Quebec (-15.1% to $1.5 billion) and Newfoundland and Labrador (-19.0% to $54 million).
The value of building permits rose in every other province and territory—the most significant spend coming from a $474 million commercial permit issued in the city of Ottawa for the construction of the 2.7 million-sq.-ft. Project Python, part of which will house the city’s second Amazon distribution centre.
Rise in single-family home
The total value of residential permits issued nationally decreased by 6.2% to $5.1 billion in July, largely because of the decline in B.C. (-39.4%).
Following a 31.1% increase in June, the value of permits issued for multi-family dwellings in B.C. fell by 47.8% to $542 million in July, its lowest level since the onset of the pandemic in March.
In Quebec, multi-family permits declined 16.2% to $581 million, following a 13.6% increase in June.
On a positive note, the value of permits issued for single-family homes across the country increased by 3.9% to $2.2 billion in July, driven by gains in Alberta (+12.6%) and Quebec (+6.3%).
The total value of non-residential permits rose 3.3% to $2.7 billion in July, despite declines in industrial and institutional permits.
Commercial permits increased by 29.9% to $1.6 billion in July, again mainly due to the $474 million permit issued in the city of Ottawa.
The value of industrial permits declined for the second straight month, falling 15.7% to $462 million in July. The decrease was largely attributable to Quebec, down 37.1% to $170 million.
Following a 43.4% gain in June, the value of institutional permits fell 24.2% to $628 million in July. Ontario (-45.2%) and British Columbia (-50.2%) represented the largest monthly declines.
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October 25, 2021