Canada’ building permits fall sequentially in April on lower construction intentions for single-family dwellings

Canada’s building permits dropped sequentially in April. Municipalities issued CAD 7.1 billion worth of permits, down 0.2 percent from March. The drop was mainly driven by lower construction intentions for single-family dwellings. The value of building permits dropped in four provinces in April, led by Alberta and Ontario.

Residential building permits dropped 2.5 percent in April to CAD 4.5 billion, marking the third straight monthly fall. Lower construction intentions for single-family dwellings more than countered a moderate rise in the multi-family component. Three provinces recorded drops in the residential sector, led by Ontario.

Construction intentions for single-family dwellings dropped 8.1 percent in April to CAD 2.5 billion. The dropped stemmed mainly from single-detached homes in Ontario, particularly the Toronto census metropolitan area, while five other provinces also recorded drops in the single-family building component.

On the contrary, multi-family dwelling construction intentions were up 5.6 percent in April, rising to just under CAD 2 billion, mainly due to gains in seven provinces, led by British Columbia. The rise followed a 21.1 percent fall in March and was moderated by a notable drop in the apartment building category in Alberta.