The February building permits report

Statistics Canada has come out with its latest report on building permits in Canada. The report includes the following:

  • Building permits totalled $6.0 billion in February, a 1.7% increase from January. Higher construction intentions in the non-residential sector in eight provinces, led by Alberta, more than offset a decline in the residential sector.
  • Construction intentions in the commercial component increased 13.2% to $1.5 billion, continuing an upward trend that began in late 2011. Gains in four provinces, led by Alberta and British Columbia, more than offset losses in the remaining provinces. The advance was largely attributable to higher construction intentions for recreational facilities and office buildings in Alberta, while in British Columbia, the gain came from retail outlets, hotels and restaurants, and warehouses.
  • Construction intentions for multi-family dwellings decreased 19.1% to $1.3 billion, the seventh decrease in eight months. The decrease came from every province except Prince Edward Island. Most of the decline was accounted for by New Brunswick, British Columbia and Ontario.
  • In February, municipalities issued $2.3 billion worth of building permits for single-family dwellings, up 1.1% from January and the second consecutive monthly increase. Higher construction intentions in Alberta, Manitoba and Ontario more than offset decreases in five provinces led by Saskatchewan, British Columbia, and Newfoundland and Labrador.

For the past 12-month period, the value of building permits has decreased by 7.8 percent. February 2012 permits were at $6.51 billion.

Here is a graph of the total value of building permits that goes back to 2008:

Total value of building permits

The full report can be viewed here.

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