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Value of building permits falls 2.5% in February

Statistics Canada says the value of building permits issued by Canadian municipalities in February fell 2.5 per cent to $7.5-billion.

Statistics Canada says municipalities issued $7.5-billion worth of building permits in February, down 2.5 per cent from January.

The agency says the decrease was mainly the result of a drop in plans for single-family dwellings and institutional structures.

The value of residential building permits issued fell 1.5 per cent to $5.0-billion in February, with the decrease for single-family homes construction permits offset in part by an increase in the multi-family component.

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Plans for single-family dwellings fell 5.4 per cent to $2.6-billion, while multi-family construction plans grew 3.0 per cent to $2.4-billion in February.

Building permits for non-residential buildings fell 4.5 per cent from January to $2.4-billion in February.

The institutional component fell 16.2 per cent to $609-million mainly due to lower construction intentions for government buildings and elementary schools, while the value of permits for industrial structures fell 2.7 per cent to $395-million.

The commercial category rose 1.0 per cent to $1.4-billion due to plans for office buildings in Quebec and Manitoba.

Statistics Canada say the total value of building permits fell in five provinces in February, led by Ontario and Alberta. Saskatchewan and British Columbia reported the largest increases.

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