Municipalities issued $7.4 billion worth of building permits in February, up 15.5% from January and 10.2% higher than in February 2015.
Four provinces reported an increase in permits over a year ago. Alberta reported the largest gain, (+25.6%) followed by Ontario (+17.2%). The largest annualized losses occurred in Nova Scotia (-40.7%), Saskatchewan (-34.3%), and Newfoundland and Labrador (-20.3%). Quebec reported a 2.9% annualized decrease.
Builders took out residential building permits worth $4.2 billion in February, up 5.0% from January but 2.5% lower than in February 2015. Just two provinces reported an annualized growth rate for residential permits: Prince Edward Island led the way (+35.0%) followed by Ontario (+22.6%). Double-digit annualized decreases occurred in four provinces with the steepest declines occurring in Nova Scotia (-49.8%), and Saskatchewan (-44.9%). Quebec’s year-over-year decline was 2.0%.
Municipalities issued permits worth $1.8 billion for multi-family dwellings in February, down 0.6% from January and 13.2% lower than in February 2015. Lower month-over-month construction intentions for projects were recorded in five provinces. The largest losses occurred in British Columbia, Nova Scotia and Manitoba. The largest gains were recorded in Alberta and Quebec. Permits for single family units amounted to $2.4 billion, up 9.6% from January and 7.4% higher than in February 2015. Monthly increases were posted in five provinces led by Ontario, up 34.2% from January. Quebec, Alberta and British Columbia posted the largest monthly decreases.
Municipalities approved 16,005 new dwellings in February, up 2.2% from January but 7.7% lower than in February 2015. There was a 10.5% monthly increase and a 4.8% annualized gain in the number of single-family units, which totaled 6,105. There was a 2.4% monthly decrease and a 14.0% annualized loss in the number of multi-family units approved, which totaled 9,900.
The value of non-residential permits in February grew 33.1% from January to $3.2 billion and increased 33.0% from February 2015. From January to February, industrial permits lost 8.4% to $483 million but were up 1.2% from February 2015; institutional permits rose 18.7% from January to $680 million and were up 15.6% from a year earlier; while commercial sector permits gained 56.6% from January to $2.0 billion, and were up 52.2% from February 2015. This was their highest level since May 2007. The monthly institutional upturn came mainly from higher construction intentions for nursing and retirement homes, educational facilities and other government buildings. The largest gains were in Quebec and Alberta. Ontario had the largest decline. The monthly industrial decrease mainly resulted from lower construction intentions for utility and transportation-related buildings. The largest increases were in British Columbia and Manitoba. Alberta reported the largest decrease. Commercial construction increases occurred primarily in Alberta and Ontario.