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Building permits slide and mark slower construction activity

Building permits slide and mark slower construction activity

Posted on: 9/7/2017 | Author: ATB Financial's Economics + Research Team

Future construction activity is likely to slow. That’s because, for the second month in a row, building permits have fallen.

In July, Alberta’s towns and cities issued just over $1.0 billion worth of building permits. The value of total permits was down by nearly seven per cent from June. Compared to last year, total building permits in Alberta are down by nine per cent.

All categories except institutional and governmental buildings registered declines in July. Construction intentions for commercial buildings fell the most (-13.4 per cent) across the province.

For a second month, the majority of the permit activity took place in Edmonton. Total activity only fell 1.4 per cent from June to July while in Calgary permits fell 13 per cent over the same time period. In July, residential permits grew four per cent and institutional and governmental buildings saw nearly a five-fold increase in Alberta’s capital city.

The most recent building permit report confirms that construction activity in Alberta will be softer in the coming years.

Alberta building permits, graph

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