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Building permits up in July

Building permits up in July

Posted on: 9/11/2019 | Author: ATB Economics

​​Things improved somewhat in Alberta’s beleaguered construction sector in July. The seasonally-adjusted value of building permits issued by Alberta municipalities rose by 4.1 per cent between June and July, to reach $942.9 million. The increase comes after a 12.2 per cent decline in June.

While the monthly bump is welcome news, construction levels remain below where they were in previous years. The value of permits was down by 12.2 per cent compared to July 2018 and by 16.4 per cent compared to July 2017. The average value of permits over the first seven months of 2019 was below the value for the same period last year by 20.3 per cent.

Institutional and government building construction saw the largest monthly increase in permit value, going from $67.1 million to $94.6 million (41.1 per cent). Commercial building construction increased by 22.2 per cent, going from $188.6 million to $230.4 million. Industrial building construction, however, saw a decline of 46.2 per cent, dropping from $111.2 million to $59.8 million.

On the residential front, permits edged up by 3.6 per cent in July compared to June, rising from $538.9 million to $558.1 million. Single and multiple dwelling units posted increases of 3.8 and 4.9 per cent, respectively.

On a year-over-year basis, the value of permits was higher only for the institutional and government category.

Even if the growth seen in July is repeated in the remaining five months of the year, the total value of permits for 2019 will still come in lower than the total for 2018.

Building permits September 2019, graph​​

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