Alberta had the largest increase in the country in November building permits, according to Alberta Treasury Branch data.
The seasonally adjusted value of building permits issued in Alberta jumped 21 per cent and drove over 30 per cent of the overall increase in Canada in November, states the ATB’s The Owl publication.
Non-residential permits nearly doubled in value as commercial permits surged 140 per cent to a five-year high and dwarfed a 13 per cent drop in institutional and governmental permits.
Meanwhile the ATB reports that residential permit value fell seven per cent after back-to-back gains post August, largely due to a pullback in multiple-unit dwellings.
Despite the monthly drop, residential permit value remained up eight per cent compared to a year ago. Comparatively, non-residential permits posted a solid 65 per cent increase relative to last November.
The ATB reports that, over the first 11 months of 2021, the unadjusted value of total building permits stood 35 per cent above the same period in 2020.
Nationally, construction intentions were up seven per cent, with growth in seven out of 10 provinces — led by big gains in Alberta, Quebec and British Columbia. The value of permits issued in every province was higher over the first 11 months of 2021 compared to the same period in 2020, with the exception of Newfoundland and Labrador.