The monthly total value of building permits in Canada decreased 4.0% in January to $9.8 billion, reported Statistics Canada on Friday.
There were eight provinces that reported decreases in January, with the multi-residential sector in British Columbia significantly contributing to the national fall.
“The residential sector declined 6.6 per cent to $6.1 billion in January, while the non-residential sector was relatively stable, increasing a modest 0.7 per cent to $3.7 billion,” said the federal agency. “On a constant dollar basis (2012=100), the total value of building permits went down 3.2 per cent to $5.8 billion in January.”
StatsCan said the downward trend of multi-family homes continued as construction intentions declined 8.3 per cent in January. Most of the decline stemmed from British Columbia (-27.9 per cent or -$301.2 million) following a month of significant urban development intentions. Conversely, Manitoba posted a notable increase (+106.0 per cent or +$63.0 million) in January.
Total permit values for single-family homes decreased 4.4 per cent in January, with Quebec (-13.5 per cent or -$74.6 million) contributing the most to the decline. Alberta (+0.8 per cent) and British Columbia (+0.6 per cent) were the only provinces to post increases for this component, it added.
“Construction intentions in the institutional sector decreased 5.9 per cent in January, with Quebec (-21.1 per cent) having the biggest decline. Conversely, British Columbia jumped 43.8 per cent due to an $87 million permit for an educational building in Kelowna.”
Canada’s Podcast is the number one podcast in Canada for entrepreneurs and business owners. Established in 2016, the podcast network has interviewed over 600 Canadian entrepreneurs from coast-to-coast.
With hosts in each province, entrepreneurs have a local and national format to tell their stories, talk about their journey and provide inspiration for anyone starting their entrepreneurial journey and well- established founders.
The commitment to a grass roots approach has built a loyal audience with over 120,000 downloads and thousands of subscribers on all our social channels and YouTube. Canada’s Podcast is proud to provide a local, national and international presence for Canadian entrepreneurs to build their brand and tell their story.