Residential construction in Alberta doing better than non-residential
The seasonally adjusted value of building permits issued by Alberta municipalities fell by 7.0 per cent in September
By ATB Economics 2 November 2020 1 min read
After contracting by 0.6 per cent in August, the seasonally adjusted value of building permits issued by Alberta municipalities* fell by 7.0 per cent in September and was down by 20.0 per cent compared to 12 months earlier.
The story in Canada as a whole is different with the value of permits rising by 17 per cent in September with year-over-year permit value up by 10.6 per cent. The three prairie provinces all lost ground in September along with Nova Scotia.
Ontario accounted for the majority of the growth in September and was the only large province with the total value of permits over the first nine months of the year higher than over during the same period last year.
Non-residential permit value in Alberta fell in both August and September while residential permit value increased. Year-to-date permit value in the residential sector was down by 6.4 per cent compared to 16.5 per cent in the non-residential sector..
The Edmonton Census Metropolitan Area (CMA) has fared better than Calgary with its year-to-date permit value up by 2.2 per cent while Calgary’s was down by 19.8 per cent. Higher multiple dwelling permit value in Edmonton explains the difference between the two CMAs.