The numbers for building permits in Canadian municipalities have been released by Statistics Canada. The actual data has beat analysts expectations. Over $5.8 Billion in permits has been issued by cities. This was lead by the non- residential sector, as the residential sector experienced declines.
The $5.8 billion represents a 9.9% increase over January. Most of the residential declines were in Ontario and Quebec. However, most of the non-residential increases were in Alberta and Ontario. Non residential permits were valued at $2.8 billion up 72.9% in 5 provinces including British Columbia, Prince Edward Island and Manitoba. $884.4 million was issued in industrial permits.
Residential permits fell across the board. Multi family permits fell 34.4% to $892 million. This is the first time in a year, that value is under $1billion. Single family home permits are down 8.6% to 2.1billion.
Permit values have gone up in 23 of the 34 metropolitan areas surveyed. This was led by Edmonton, Calgary, London Ontario and the Golden Triangle cities of Kitchener, Waterloo and Cambridge.