indicatorThe Owl

Construction outlook in Alberta improves to start the year

Residential construction intentions in Alberta increased in January but decreased nationally

By Rob Roach, ATB Economics 6 March 2023 1 min read

After falling by 3.4% ($41 million) in December, the seasonally-adjusted value of building permits* issued in Alberta in January rose by 2.1% ($24.0 million).

A 16% increase ($60 million) in multi-family dwelling permits and a 142% ($34 million) rise in industrial permits helped offset a 27% ($88 million) drop in commercial intentions.

SIngle-dwelling permit value was up by 0.8% ($3 million) and institutional projects posted a 33% increase ($14 million).

A large drop in commercial intentions pushed down total permit value in Calgary by almost 6%.

Stronger residential growth and an uptick in the institutional/governmental category saw Edmonton’s monthly permit value rise by just under 3%.

Nationally, permit value in January was down by 4% ($404 million) with residential intentions off by 6.6% ($430 million).

*Statistics Canada’s monthly Building Permits Survey collects data on the value of permits issued by Canadian municipalities for both residential and non-residential buildings.

Answer to the previous trivia question: At 366 compared to 310 (as of 2021), Alberta has more head offices than British Columbia.

Today’s trivia question: How many pages is the current Alberta version of the National Building Code?

The seasonally-adjusted value of buulding permits issued in Alberta rose to $1.2 billion January 2023

The seasonally-adjusted value of buulding permits issued in Alberta rose to $1.2 billion January 2023


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