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October 05, 2022BUILDING PERMITS, AUGUST 2022 Month over month (seasonally adjusted, Aug 2022 vs. Jul 2022)
Changes in monthly building permit values are typically very volatile, with large swings from one month to the next. Nova Scotia's total building permits (residential and non-residential) increased 14.4% to $200.2 million. Halifax permits increased 30.1% to $128.7 million. Outside the city, permit values decreased 5.9% to $71.4 million. National permits increased 11.9% to $12.48 billion. Building permit values were up in five provinces, led by Ontario and Manitoba. Prince Edward Island and Saskatchewan reported the largest declines.
Nova Scotia's residential building permits increased 14.3% to $161.0 million. Halifax residential permits increased 25.5% to $96.4 million. Outside the city, residential permit values increased 0.9% to $64.6 million. National residential building permit values increased 12.0% to $8.45 billion. Residential permit values were up in three provinces, led by Ontario and Nova Scotia. Prince Edward Island and Saskatchewan reported the largest declines.
Nova Scotia's non-residential building permits increased 15.1% to $39.2 million. Halifax permits increased 46.0% to $32.4 million. Outside the city, non-residential permit values decreased 42.6% to $6.8 million. National non-residential building permit values increased 11.8% to $4.03 billion. Non-residential permit values were up in five provinces, led by Ontario and Newfoundland and Labrador. Prince Edward Island and Saskatchewan reported the largest declines.
Year-to-date (Jan-Aug 2022 vs. Jan-Aug 2021)
Nova Scotia's total building permits (residential and non-residential) increased 22.3% to $1,741.8 million. Halifax permits increased 36.7% to $1054.2 million. Outside the city, permit values increased 5.4% to $687.6 million. National permits increased 13.4% to $94.46 billion. Building permit values were up in all provinces, led by British Columbia and Saskatchewan. Manitoba and Prince Edward Island reported the smallest gains.
Nova Scotia's residential building permits increased 28.1% to $1,402.8 million. Halifax residential permits increased 41.3% to $835.8 million. Outside the city, residential permit values increased 12.6% to $566.9 million. National residential building permit values increased 8.7% to $62.65 billion. Residential permit values were up in 8 of 10 provinces, led by Newfoundland and Labrador and British Columbia. Manitoba and Prince Edward Island reported the declines.
Nova Scotia's non-residential building permits increased 3.0% to $339.0 million. Halifax permits increased 21.3% to $218.3 million. Outside the city, non-residential permit values decreased 19.1% to $120.7 million. National non-residential building permit values increased 23.8% to $31.81 billion. Non-residential permit values were up in 9 of 10 provinces, led by British Columbia and Saskatchewan. Newfoundland and Labrador was the only province to report a decline.
Overall building permit values in Nova Scotia increased in the first eight months of 2022 compared with January-August 2021. This reflects an increase in most residential and non-residential permit types across the province, with the exception of institutional/government buildings and industrial buildings in the province.
Trends
Overall building permit values have been on a rising trend since the middle of 2021, mostly driven by the rise in residential permit values (within Halifax as well as outside the city). After growing at the end of 2021, Nova Scotia's non-residential building permit values have trended down since the beginning of 2022. Non-residential permit values have trended down in 2022 for Halifax as well as for the rest of the province.
Trends in residential permit values reflect the differences in housing markets for Halifax and the rest of the province. In Halifax, growth in permit values for multi-unit dwellings has outpaced growth in single-dwelling unit permits. Outside the city the situation is reversed, with stronger growth in single dwelling unit permit values than in multi-unit structures.
Non-residential building permits have lower values than residential permits. After rising in late 2021, values for Halifax commercial building permits have stabilized while Halifax industrial permits have declined. Outside the city, permits are trending down in 2022 for all three categories of non-residential building: commercial, industrial and government/institutional.
Source: Statistics Canada. Table 34-10-0066-01 Building permits, by type of structure and type of work (x 1,000)
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