Canadian Building Permits

The total value of Canadian building permits climbed 15.5 per cent on a monthly basis in February. That increase follows a 9.5 per cent decline in the previous month. Stronger permits were driven by higher construction intentions in the commercial sector in Alberta as well as single-family residential permits in Ontario. 

In BC, total permit activity declined in February, dropping 1.2 per cent on a monthly basis but remained above $1 billion for the fourth consecutive month. On a year-over-year basis, the dollar value of building permits in the province was 11.5 per cent higher than February 2015. Non-residential permits were up 17.1 per cent on a monthly basis and close to 54 per cent year-over-year while residential permits were down 8.3 per cent on a monthly basis and were 1.8 per cent lower compared to last year. 

Construction intentions were mostly lower in BC's four census metropolitan areas (CMA). Permits in the Abbotsford-Mission CMA were down 43 per cent on a monthly basis and 13.8 per cent lower year-over-year.  In the Kelowna CMA, permits fell 63 per cent from January but were 65 per cent lower year-over-year. In the Vancouver CMA, permits fell 5.5 per cent on a monthly basis and were essentially flat year-over-year.  In the Victoria CMA, permit activity was up 94 per cent on a monthly basis and more than doubled on a year-over-year basis.

Copyright BCREA - reprinted with permission