Canadian Building Permits

Canadian building permits declined 4.1 per cent in December to $6.5 billion, the second consecutive monthly decrease following November's 6.6 per cent drop. The decline in building permits was led by weaker permitting activity for Ontario and BC multi-family projects.

Construction intentions in BC tumbled 30 per cent from November as both residential and non-residential permits experience substantial monthly declines. On a year-over-year basis, the value of total BC building permits was down 4.8 per cent compare to December 2012.  For all of 2013, the total value of BC building permits fell 8 per cent from 2012. 

Building permit activity was down across all of BC's four major census metropolitan areas (CMA) in December. In the Abbotsford-Mission CMA, permits fell 7.1 per cent on a monthly basis and were down 31 per year-over-year.  Construction intentions in the Victoria CMA declined 2.3 from November and 22.6 per cent year-over-year. In the Kelowna CMA, permits were down 29 per cent from November and 26 per cent year-over-year.  Finally, in the Vancouver CMA  building permits were off 31.4 per cent cent month-over-month but rose 12.4 per cent compared to December 2012.

Copyright BCREA –reprinted with permission