Residential building permits had a strong April in Alberta
Residential permit value increased by 15.4 per cent ($121.6 million) in April compared to March
By Rob Roach, ATB Economics 3 June 2021 1 min read
The seasonally adjusted value of building permits issued by Alberta municipalities* rose by a solid 9.8 per cent ($114.3 million) in April compared to March. This was the fourth monthly increase in a row.
The total value of permits over the first four months of the year was well above the same period in both 2020 (28.2 per cent) and 2019 (28.9 per cent).
Residential permit value increased by 15.4 per cent ($121.6 million) in April compared to March with multiple dwelling buildings accounting for most of the jump ($100.6 million).
Non-residential permit value went in the other direction, contracting by 1.9 per cent ($7.3 million). Improvement in the industrial (+$8.7 million) and commercial (+$19.9 million) sectors was not enough to offset the drop in institutional and government permits (-$36.1 million).
Despite dropping in April, institutional and government permit value was much higher over the January to April period of 2021 than it was in both 2020 (+$182.54 million) and 2019 (+244.4 million)
Nationally, permit value edged down by 0.5 per cent in April.
*Statistics Canada’s Building Permits Survey covers all Canadian municipalities that issue permits.
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Today’s trivia question: Why is June known as the best month to get married?