Navigate Up
Sign In
Building permits holding steady in cities

Building permits holding steady in cities

Posted on: 1/11/2019 | Author: ATB Financial's Economics + Research Team

​​One of the worst-hit sectors during the economic downturn has been construction, reflecting both a fragile economy and an excess supply of real estate on the market. But the latest statistics on builders’ intentions in Alberta show more of a steady state, rather than a sector in crisis.

In November, building permits for both residential and non-residential projects totaled $1.068 billion in Alberta, up slightly from October but a bit below the 2-year average of $1.15 billion. The figure is seasonally adjusted to take into account predictable fluctuations in construction activity throughout the year.

Breaking it down between the two major cities, Calgary regained an edge over Edmonton with builders in the city taking out permits on $454 million in construction projects. The blue line in the graph below shows Calgary’s trend over the last two years.

Residential and non-residential building permits in Edmonton amounted to $388 million, just below the 2-year average of $417 million. This is illustrated by the red line.

The yellow line in the graph represents building permits in all other areas of the province outside the two major cities. This has averaged around $284 million per month, but slid to $224 million in November, its lowest point over the two year period.

New vehicle sales, graph​​​​

Share this article:

GlassdoorThis icon serves as a link to download the
eSSENTIAL Accessibility assistive technology app for individuals with physical disabilities. It is
featured as part of our commitment to diversity and inclusionDiversity and Inclusion

About ATB | Contact Us | Find a Branch or ABM | Current Rates | Privacy and Security | Legal | Code of Conduct | Site Map | Supplier Resources

©ATB Financial 2019. All rights reserved. ATB Financial is a trade name/registered trademark.

ATB Financial