According to Statistics Canada, the total value of building permits issued by Canadian municipalities was down 7.0 percent to $6.9 billion in March, marking the second decline in three months. The decrease, which followed a 15.3 percent gain in February, was largely the result of lower construction intentions for commercial buildings in Alberta, Ontario and British Columbia.
In the non-residential sector, the value of building permits was down 22.8 percent to $2.4 billion in March, following a 32.6 percent increase the previous month. The value of residential permits rose 4.8 percent to $4.4 billion in March, a second consecutive monthly increase.
The value of permits for commercial buildings was down 27.7 percent to $1.5 billion in March, partially offsetting the 56.6 percent increase in February. At the national level, the decline was mainly the result of lower construction intentions for recreational facilities and retail complexes, which recorded large increases the previous month.
In the institutional component, the value of permits was down 12.2 percent to $591 million in March, after posting an increase of 17.5 percent the previous month. The decrease resulted mostly from lower construction intentions for secondary schools, other government buildings and health clinics.
The value of industrial building permits was down 17.1 percent to $395 million in March, a second consecutive monthly decline. Lower construction intentions for maintenance-related buildings, utilities buildings and manufacturing plants were responsible for much of the decrease.
Construction intentions for multi-family dwellings rose 12.1 percent to $2.0 billion in March. Gains were reported in every province, except Alberta. The value of permits for single-family dwellings edged down 0.5 percent to $2.4 billion, following a 10.0 percent increase in February.
Municipalities approved the construction of 15,674 new dwellings in March, down 1.4 percent from the previous month. The decline resulted from single-family dwellings, which fell 7.9 percent to 5,623 new units. Conversely, multi-family dwellings were up 2.6 percent to 10,051 new units.