Building intentions in the Calgary region were on the upswing in May.
According to Statistics Canada, the value of building permits in the Calgary census metropolitan area rose to $542.4 million for the month, representing a hike of 18.2 per cent from April and up 12 per cent from a year ago.
In a report released on Tuesday, the federal agency said building permit value in Alberta jumped to $1.2 billion in May. That was a 1.4 per cent increase from April but down 3.9 per cent year-over-year.
The residential sector in the province saw permits rise by 12.5 per cent monthly and 6.9 per cent annually to $810.5 million.
The non-residential sector in Alberta, however, saw a decline of 15.8 per cent month-over-month and 20.3 per cent year-over-year to $396.1 million.
Nationally, building permit value was on the rise in Canada reaching $8.2 billion for the month. That was an increase of 4.7 per cent from April but down 0.4 per cent from a year ago.
Across the country, the residential sector was strong, seeing a monthly hike of 7.7 per cent and an annual jump of 3.7 per cent to $5.5 billion.
However, the non-residential sector struggled. It’s $2.7 billion in permit value was down 0.7 per cent month-over-month and off 7.8 per cent year-over-year.
“The multi-family dwelling component reached a record high in May, with municipalities issuing $3.1 billion worth of building permits. The increase was the result of higher construction intentions in British Columbia, Ontario and Alberta,” said StatsCan.
“The value of single-family dwelling permits also rose in May, up 6.2 per cent from the previous month to $2.5 billion. This was the first increase following four consecutive monthly declines. Ontario led the seven provinces that registered increases.”
Respected business writer Mario Toneguzzi is a veteran Calgary-based journalist who worked for 35 years for the Calgary Herald in various capacities, including 12 years as a senior business writer.
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