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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

January 10, 2025
BUILDING PERMITS, NOVEMBER 2024

Monthly (seasonally adjusted, November 2024 vs October 2024)

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) dropped 15.4% to $251.0 million. Halifax permits declined 14.1% to $154.9 million while permits outside the city fell 17.4% to $96.2 million. National permits fell 5.9% to $11.75 billion. Total building permit values were up in five provinces, led by Prince Edward Island. Nova Scotia reported the largest monthly decline in building permit values.

Nova Scotia's residential building permits fell 26.0% to $179.6 million. Halifax residential permits dropped 22.5% to $113.2 million. Outside the city, residential permit values decreased 31.3% to $66.5 million. National residential building permit values declined 7.5% to $7.22 billion. Residential permit values were down in seven of ten provinces, led by Prince Edward Island. New Brunswick, Newfoundland and Labrador, and Alberta reported gains in residential permit values.

Nova Scotia's non-residential building permits rose 32.4% to $71.4 million. Halifax permits grew 21.7% to $41.7 million. Outside the city, non-residential permit values rose 51.0% to $29.7 million. National non-residential building permit values declined 3.2% to $4.52 billion. Non-residential permit values were up in seven of ten provinces, led by Prince Edward Island. Ontario, Manitoba, and Alberta reported falling non-residential permit values.

Year-to-date (January-November 2024 vs January-November 2023)

Nova Scotia's total building permits (residential and non-residential) were up 9.1% in the first eleven months of the year comparing with the same period in 2023. Halifax permits increased 13.1% and outside the city permit values increased 3.4%. National permits were up 4.2%. Building permit values were up in every province except British Columbia, with Prince Edward Island and New Brunswick reporting the fastest increases.

In the first eleven months of 2024, Nova Scotia's residential building permits increased 15.7% compared to the same period in 2023. Halifax residential permits increased 19.0% and outside the city residential permit values increased 10.8%. National residential building permit values increased 5.2%. Residential permit values were up in eight provinces year-to-date, led by Newfoundland and Labrador. British Columbia reported the largest decline.

Nova Scotia's non-residential building permits decreased 4.5% in the first eleven months of 2024 (compared with the same period in 2023). Halifax permits increased 0.6% while non-residential permits outside the city decreased 11.6%. National non-residential building permit values rose 2.7%. Non-residential permit values were up in six provinces, led by Prince Edward Island. Quebec reported the largest decline.

Rising residential permit values boosted overall building permit values in Nova Scotia in the first eleven months of 2024 (compared with same months of 2023). Non-residential permit values were slightly up in Halifax and down in the rest of the province.

There were increases in permit values for single dwelling units in Halifax and a slight decline in the rest of the province. Multiple unit permits rose across the province.

Non-residential permit values were down in commercial projects outside the city and slightly up in Halifax. Institutional and government building permits were up across the province. Industrial permits fell in Halifax and rose in the rest of the province.

Trends

Overall building permit values have generally been on a rising trend for several years, though there have been periods of declining values over this period.  Rising permit values are mostly driven by higher residential permits within Halifax as well as outside the city.

After trending down in late 2022 and early 2023, residential permit values started to rise again in Halifax in the middle of 2023. Halifax residential permit values have trended down in recent months.

Nova Scotia's non-residential building permit values started to rise in early 2023 before reaching a plateau through the end of the year. Non-residential permit values reached a plateau in Halifax while declining in the rest of Nova Scotia, resulting in a continuation of flat trend.

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, where single dwelling unit permits are more common than permits for multi-unit structures. Residential permits have been trending down due to the decline among multiples in Halifax.

Non-residential building permits have lower values than residential permits. In Halifax, non-residential permits reached a plateau in recent months. Commercial projects are declining and institutional/governmental projects are declining in recent months. After rising in early 2023, Halifax values for industrial building permits subsequently declined and have grown at a slower pace in recent months. Outside the city, permits have reached the peak and there is a decline in commercial and institutional/government permits.

Source: Statistics Canada. Table 34-10-0285-01 Building permits, by type of structure and type of work (x 1,000)



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