July saw a Canada wide decline in building permits, and Alberta wasn’t exempt from this trend, experiencing a significant reduction of 15.2%. The national drop of 1.5% is attributed mainly to a decrease in non-residential permits.
Canada’s residential permit values increased, primarily propelled by Ontario’s growth. Contrarily, Alberta witnessed a decrease in the total monthly value of its residential permits by about 13%.
On the non-residential construction front, Alberta logged an 18% decrease, which is more pronounced than the nationwide 11.5% decline. One standout data point for Alberta is the sharp decline in the industrial sector after a notable peak in June. A look into the figures reveals that industrial permits soared to 150,925 in June, nearly tripling May’s value of 55,003. However, by July, they came back down to 45,171.
In tandem with the national data, Alberta’s commercial sector registered a slight 2.7% decrease from June to July. In a twist away from the broader Canadian trend, Alberta’s institutional and governmental construction intentions climbed by 7.6% over the same period.
For a more granular view on Alberta’s month-over-month data: The single dwelling units sector in Alberta showcased consistency. In May, the figure stood at 440,901, which saw a minor uptick in June to 446,412, and slightly decreased to 443,124 by July. In contrast, multiple dwelling projects exhibited a significant spike, with values jumping to 456,259 in June. On the non-residential side, the industrial segment experienced a dramatic rise in June, reaching 150,925, only to take a sharp plunge in July to 45,171. The commercial sector registered a 2.68% decline from June to July, while the institutional and governmental sector experienced a growth of 7.6% over the same period.
For an in-depth understanding and comprehensive data, you can delve into the full report on the Statistics Canada website. Read the complete report here.
