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April 06, 2017BUILDING PERMITS, FEBRUARY 2017 
The value of building permits issued in Nova Scotia decreased by 7.8 per cent in February, following a 93.5 per cent increase in January. Non-residential permit values decreased 36.3 per cent while residential values increased 8.9 per cent. Although monthly results for building permits are highly volatile, permit values have begun to pick up in early 2017, after remaining generally flat trend in 2016 and declining through much of 2015.
The trend in Nova Scotia building permit values particularly reflects the trends in the Halifax market. The value of Halifax building permits decreased 2.0 per cent in February 2017 reflecting a decrease in non-residential permits and an almost offsetting increase in residential permits. Residential and non-residential permits in Halifax have been on the rise since mid-2016 following a downward trend through much of 2015 and early 2016.
Outside the Halifax market, building permit values decreased 15.2 per cent in February, with both non-residential and residential permits remaining relatively flat recent months. Non-residential permit values increased 22.2 per cent in February and residential permit values decreased 27.6 per cent.
Comparing January and February 2017 with the same period in 2016, NS building permits were up 49.0 per cent with a increase in residential permit values of 46.1 per cent and an increase in non-residential values of 55.8 per cent.
The pickup in residential permit values in early 2017 reflects growth in multiple-unit construction in Halifax and single-unit construction outside of Halifax, compared to the same period in previous years.
Compared with January and February 2016, in January and February 2017 building permit values (unadjusted) were up in all economic regions, with the largest gains in Halifax.
Nationally, residential building permit values have been on an upward trend in 2016 and 2017. Non-residential building permit values have been slowly but steadily trending downward since mid-2014. Compared to January and February 2016, residential permits were up by 22.0 per cent nationally in January and February 2017 while non-residential permits were down by 7.4 per cent.
Comparing the first two months of 2017 to the same period in 2016, among other provinces Manitoba reported the largest gains in residential building permit values followed by Nova Scotia and Ontario. Newfoundland and Labrador and Alberta reported declines.
Comparing the first two months of 2017 to the same period in 2016, non-residential building permits increased in six provinces led in percentage terms by Prince Edward Island, New Brunswick, and Nova Scotia. Note that Prince Edward Island's large percentage increase reflects a particularly slow January and February 2016. Alberta, Ontario, British Columbia, and Newfoundland and Labrador saw declines.
Comparing the first two months of 2017 to the same period in 2016, overall building permit values were down in Alberta and Newfoundland and Labrador, while all other provinces observed gains.
Sources: CANSIM 026-0006 and 026-0005
Statistics Canada Cat. No. 64-001-X
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