Building permits went up a few floors in June
Construction intentions in Alberta topped $1.3 billion in June for an increase of 12.7% compared to May
By Rob Roach, ATB Economics 4 August 2021 1 min read
After dropping in May, the seasonally adjusted value of building permits issued by Alberta municipalities* bounced back strongly in June.
Permit value topped $1.3 billion for an increase of 12.7% compared to May and signals builders are confident demand is on the rise.
Construction intentions were twice as high as they were in June 2020 when they reached their lowest point of the pandemic.
Permit value over the first half of the year was the second highest since 2016. It was also a solid 26.3% above the same period in 2019 (which was not a strong year for Alberta’s construction sector) before the disruptive effects of the pandemic.
Residential permit value was up by 4.1% in June. Single dwelling permits gained ground, rising by 9.3%, while multiple dwelling permits contracted by 2.7%.
Led by commercial projects, the non-residential category did particularly well in June with permit value up by 32.7%. Industrial building permits were, however, down by 43.3%.
Nationally, the total value of building permits rose 6.9% to $10.3 billion in June.
*Statistics Canada’s Building Permits Survey covers all Canadian municipalities that issue permits.
Answer to the previous trivia question: The United States is the world’s largest producer of natural gas.
Today’s trivia question: After which Roman Emperor is the month of August named?