OTTAWA ― The value of building permits issued by municipalities was down 19.6% from October to $6.2 billion in November, falling below the $7 billion mark for first time since May 2015. The decrease was the result of widespread declines in both residential and non-residential sectors in most provinces, particularly Alberta.
The value of residential building permits fell 17.8% to $4 billion in November, the third decline in four months. The decrease stemmed from lower construction intentions for multi-family dwellings in nine provinces, led by Alberta, which had posted strong gains the previous month. In the non-residential sector, the value of permits decreased 22.7% to $2.2 billion in November, following slight gains the two previous months. Declines were posted in seven provinces, led by Alberta, with Saskatchewan a distant second. The largest increase was in Quebec, followed by British Columbia and Ontario.
