Canadian Building Permits

Canadian building permits rose 8.5 per cent in January to a total of $7 billion. The increase was led by higher residential construction intentions, which offset a decline in the non-residential sector.

Construction intentions in BC recovered from a weak December, jumping 32 per cent month-over-month and 21 per cent year-over-year in January. Residential permits rose 29.6 per cent on a monthly basis and 19.2 per cent year-over year while non-residential permits were up 43.2 per cent over December and 26.2 per cent year-over-year.

Building permit activity was up in all of BC's four major census metropolitan areas (CMA) in January. In the Abbotsford-Mission CMA, permits increased 63.9 per cent on a monthly basis and 34.5 per cent year-over-year.  Construction intentions in the Victoria CMA more than doubled from December lows and were up 16.3 per cent year-over-year. In the Kelowna CMA, permits increased 12 per cent from December and were 68.2 per cent higher than January 2013.  Finally, in the Vancouver CMA  a sharp increase in building permits erased last months decline, as construction intentions rose 30.5 per cent cent month-over-month and 19.8 per cent year-over-year.

Copyright BCREA – reprinted with permission