Tuesday, January 15, 2013

Canadian Building Permits

Canadian building permits rose fell 18 per cent in November, following a 16 per cent increase in October. The decline in permits was primarily due to weakness in both non-residential and residential construction intentions in Ontario.

In BC, permitting activity declined 6 per cent in November due to a slowing of non-residential permits which were down 34 per cent month-over-month and 12 per cent year-over-year. Residential permits rose 17 per cent over October, but were 14 per cent lower than November 2011.

Permit activity in BC's four major metropolitan areas  was mixed in November. Following a surge in October, the Kelowna CMA saw permit volumes slow in November, falling 34 per cent month-over-month and 7 per cent year-over-year.  The Vancouver CMA saw total permits rise 21 per cent in November following weaker activity in October, but were down 17 per cent over November 2011. In the Abbotsford CMA, permits rose 46 per cent month-over-month and 28 per cent year-over-year. Finally, the Victoria CMA recorded an 8 per cent increase in November permits and a 24 per cent increase over November 2011. 

Copyright BCREA - Reprinted with permission

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