Building permits drop slightly in July

Ottawa, ON – Driven by declines in three provinces, the total value of building permits issued in Canada fell three per cent to $7.8 billion in July, reports Statistics Canada.
The decline was entirely as a result of declines in British Columbia (-34.2 per cent to $1.2 billion), Quebec (-15.1 per cent to $1.5 billion) and Newfoundland and Labrador (-19.0 per cent to $54 million). The value of permits rose in every other province and territory—led by a $474 million commercial permit issued in the city of Ottawa for the construction of the 2.7 million-square-foot Project Python, part of which will house the city’s second Amazon distribution centre.
Permits for multi-family dwellings down sharply in British Columbia and Quebec
Following a 31.1 per cent increase in June, the value of permits issued for multi-family dwellings in British Columbia fell by 47.8 per cent to $542 million in July, its lowest level since the onset of the pandemic in March. In Quebec, multi-family permits declined 16.2 per cent to $581 million, following a 13.6 per cent increase in June.
The total value of residential permits decreased by 6.2 per cent to $5.1 billion in July, largely because of the decline in British Columbia (-39.4 per cent).
The value of permits issued for single-family homes increased by 3.9 per cent to $2.2 billion in July, driven by gains in Alberta (+12.6 per cent) and Quebec (+6.3 per cent).
Strong gains in commercial permits offset losses in industrial and institutional permits
The total value of non-residential permits rose 3.3 per cent to $2.7 billion in July, despite declines in industrial and institutional permits.
Commercial permits increased by 29.9 per cent to $1.6 billion in July.
The value of industrial permits declined for the second straight month, falling 15.7 per cent to $462 million in July. The decrease was largely attributable to Quebec, down 37.1 per cent to $170 million.
Following a 43.4 per cent gain in June, the value of institutional permits fell 24.2 per cent to $628 million in July. Ontario (-45.2 per cent) and British Columbia (-50.2 per cent) were behind most of the drop.
Total value of building permits. (StatsCan)