BCREA ECONOMICS NOW
Canadian Building Permits - September 9, 2013
Canadian building permits jumped 20.7 per cent in July to $8 billion, the sixth gain in the past seven months. Higher building permits were driven primarily by stronger construction intentions in Ontario, Alberta and Quebec.
BC building permits fell 8.2 per cent in July from June as residential building permits declined 9.3 per cent and non-residential permits dropped 6.2 per cent. Year-over-year, construction intentions in July were 23 per cent lower than in 2012. On the residential side, the total number of units permitted fell from 2,858 in June to a still relatively strong 2,310 units in July. Permits for single-family units actually rose significantly from 640 in June to 782 in July while permits for apartments declined from 1,614 to 1,086.
Permitting activity in BC's four major census metropolitan areas (CMA) varied significantly in July. In the Vancouver CMA, permits fell 25.7 per cent on a monthly basis and were 40...