Monday, September 10, 2018

Fewer BC multifamily intentions mean slip for permits


Fewer building permits were issued in July for residential properties across Canada.

Statistics Canada says that residential permits issued by municipalities were down 0.3% to $5.3 billion, mainly due to a decline in permits for multifamily buildings (down 1.1% to $2.9 billion). A decline in BC offset gains in 7 provinces.

There were gains for single-family permits (up 0.6% to $2.4 billion) with Ontario and Manitoba leading gains in four provinces.

A total of 19,824 new dwelling constructions were approved in July (+1.2%) - 14,660 multi-family units (+3.7%) and 5,164 single units (-5.2%).

Non-residential gains

Meanwhile, there were gains of 0.2% for the non-residential construction sector.

Permits issued totalled $2.9 billion, led by Quebec. There were gains for industrial units (up 16% to $726 million) which included a $100 million permits for Radio Canada in Quebec.

Commercial and institutional permit issuance were both lower.

The total of all permits issued for residential and non-residential buildings totalled $8.2 billion in July, down 0.1% from June.

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