Building-permit activity declines in Manitoba
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Hey there, time traveller!
This article was published 09/05/2017 (3249 days ago), so information in it may no longer be current.
There was a steep decline in building-permit activity in Manitoba in March, new Statistics Canada data shows.
Only $180 million worth of new residential and non-residential permits were issued in the province during the month, a drop of 31.5 per cent from February’s total of $264.1 million, and a 25.7 per cent decline from March 2016’s total of $243.4 million, the agency said Tuesday.
The month-over-month decline was the fourth largest among the provinces, while the year-over-year decline was the second largest.
The month-over-month decline in activity was evident on both sides of the building industry, with the value of residential permits falling by 20.5 per cent to $120.9 million, and the value of non-residential permits dropping by 46.4 per cent to $60 million.
On a year-over-year basis, the biggest drop was in the value of non-residential permits. That was down 49.3 per cent, compared to a 3.3 per cent decline in the value of residential permits issued.
Nationally, Statistics Canada said the value of permits issued by municipalities fell in March for the second consecutive month, due in large part to a drop in plans for apartment buildings, particularly in B.C. and Ontario.
The agency says the value of building permits dropped 5.8 per cent to $7.0 billion in March.
Economists had expected an increase of 5.5 per cent, according to Thomson Reuters.
The value of building permits issued for residential buildings fell 8.4 per cent to $4.6 billion in March as a drop in multi-family homes more than offset an increase in plans for single-family dwellings.
The value of building permits for multi-family dwellings fell 20.9 per cent to $1.9 billion in March, due to a drop in apartment buildings, and to a lesser extent, row houses. Plans for single-family homes rose 3.0 per cent to $2.7 billion in March.
The value of building permits for non-residential structures fell 0.5 per cent to $2.4 billion in March.
— Staff/The Canadian Press