Dip in multi-family construction intentions

Construction intentions for multi-family dwellings were down 8.1 per cent in April to 12,141 units, following two strong consecutive monthly gains, according to new figures by Statistics Canada.

British Columbia and Alberta accounted for most of the decrease, while other provinces, such as Ontario, Quebec, Nova Scotia and Newfoundland and Labrador, registered advances.

Across all residential buildings, increased construction intentions were up 1.2 per cent to $4.5 billion, Gains were noted in Ontario, Quebec, Nova Scotia, and Newfoundland and Labrador, while the largest decrease occurred in
British Columbia, which had posted a notable increase the previous month.

The value of single-family dwelling permits rose 6.6 per cent to $2.5 billion in April, marking the first increase in three months. Increases were recorded in five provinces, led by Ontario and Alberta. Saskatchewan and British Columbia registered the largest declines.

StatsCan also reported:
  • The total value of building permits increased in four provinces, led by Ontario, followed by Alberta, Nova Scotia and Newfoundland and Labrador.
  • The total value of permits rose in 20 of the 34 census metropolitan areas, led by Toronto, Edmonton, Halifax and St. John's.
  • In contrast, Vancouver posted the biggest drop, mostly as a result of lower construction intentions for multi-family dwellings and, to a lesser extent, commercial and industrial buildings.
  • In Québec, the decline originated from lower intentions for residential structures and commercial buildings.

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