Canadian Building Permits - August 7, 2012
Building Permits - August 7, 2012
Canadian building permits fell 2.5 per cent in June
following a 7.1 per cent rise in May. The decline in permits was driven by
falling non-residential permits as well a a drop in BC and Alberta residential
Construction intentions in BC fell 16 per cent from May. However, permitting
volume remained strong at over $900 million, a 4 per cent increase from June
2011. Residential permits were 4 per cent lower than May, but 6 per cent higher
than last June. Non-residential permits fell 35 per cent, though from a strong
prior month. Year-over-year, non-residential permits were essentially flat.
Looking at BCs major metropolitan areas, permit activity was sharply
lower month-over-month in Vancouver (down 20 per cent) and Victoria (down 47
per cent), flat in Kelowna, and up 54 per cent in Abbotsford.