Building intentions on the rise in Calgary region

Alberta's residential sector permits jumped by 12.5% on a monthly basis and 6.9% annually to $810.5 million: StatsCan

Mario ToneguzziBuilding intentions in the Calgary region were on the upswing in May.

According to Statistics Canada, the value of building permits in the Calgary census metropolitan area rose to $542.4 million for the month, representing a hike of 18.2 per cent from April and up 12 per cent from a year ago.

In a report released on Tuesday, the federal agency said building permit value in Alberta jumped to $1.2 billion in May. That was a 1.4 per cent increase from April but down 3.9 per cent year-over-year.

The residential sector in the province saw permits rise by 12.5 per cent monthly and 6.9 per cent annually to $810.5 million.

The non-residential sector in Alberta, however, saw a decline of 15.8 per cent month-over-month and 20.3 per cent year-over-year to $396.1 million.

Nationally, building permit value was on the rise in Canada reaching $8.2 billion for the month. That was an increase of 4.7 per cent from April but down 0.4 per cent from a year ago.

Across the country, the residential sector was strong, seeing a monthly hike of 7.7 per cent and an annual jump of 3.7 per cent to $5.5 billion.

However, the non-residential sector struggled. It’s $2.7 billion in permit value was down 0.7 per cent month-over-month and off 7.8 per cent year-over-year.

“The multi-family dwelling component reached a record high in May, with municipalities issuing $3.1 billion worth of building permits. The increase was the result of higher construction intentions in British Columbia, Ontario and Alberta,” said StatsCan.

“The value of single-family dwelling permits also rose in May, up 6.2 per cent from the previous month to $2.5 billion. This was the first increase following four consecutive monthly declines. Ontario led the seven provinces that registered increases.”

Respected business writer Mario Toneguzzi is a veteran Calgary-based journalist who worked for 35 years for the Calgary Herald in various capacities, including 12 years as a senior business writer.

calgary regionThe views, opinions and positions expressed by columnists and contributors are the author’s alone. They do not inherently or expressly reflect the views, opinions and/or positions of our publication.

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