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April 08, 2019BUILDING PERMITS, FEBRUARY 2019 
In February, the value of building permits (seasonally adjusted) issued in Nova Scotia decreased 31.0 per cent, following a (revised) increase of 38.4 per cent in January. Residential permits declined 46.6 per cent while non-residential building permits rose 46.1 per cent. Monthly results for building permits are highly volatile; the six-month moving average of residential permits trended modestly upwards through 2017 and then declined in early 2018. Residential permits have since re-established an upward trend. The non-residential permits' six-month moving average has remained relatively flat since mid-2017.
The trend in Nova Scotia building permit values largely reflects the trends in the Halifax market. The value of Halifax building permits declined 46.2 per cent in February, reflecting 57.8 per cent decline in residential permits that offset a 52.7 per cent increase in non-residential permits. The six-month moving average for residential permits in Halifax rose from mid-2016 through 2017 and then declined in the early months of 2018. Since the spring of 2018, residential permits have been trending upward. Non-residential permits in Halifax have trended down since June 2017.
Outside the Halifax market, building permit values were up 5.9 per cent in February 2019, as non-residential permits rose 40.9 per cent and residential permits declined 10.8 per cent. Non-residential permits trended upward outside of Halifax from mid-2017 to mid-2018 and have since leveled off. Residential permits have trended upward at a more modest pace.
In January-February 2019, the value of Nova Scotia building permits was up 36.3 per cent compared to the first two months of 2018. Residential permits are 71.2 per cent higher, and non-residential permits are down 16.2 per cent, year-to-date. The decline in non-residential building permits reflects declines in industrial (-56.1 per cent) and commercial (-6.4 per cent), while institutional and government permits were up 21.1 per cent. Halifax building permits were up 56.0 per cent in the first two months of 2019 on strong gains in the residential sector, while building permits outside of Halifax were up 11.0 per cent.
Building permits in Nova Scotia's five economic regions totaled $246 million (unadjusted) in the first two months of 2019. The largest contributor was the Halifax region, with a combined residential and non-residential permit value of $198 million in the first two months of the year. Year-to-date, the total value of residential and non-residential permits was up in Cape Breton, North Shore and Halifax, and was down in the Annapolis Valley and Southern regions.
In the first two months of 2019, the number of residential dwelling-units created (seasonally adjusted) in Nova Scotia was up by 521 units compared to January and February 2018. Across the province, the number of multiple units created was up. The number of singles created in Halifax was up while it was down outside of Halifax.
Nationally, residential building permit values (seasonally adjusted) were on an upward trend in 2016 but have levelled off since early 2017. Residential building permits declined 8.5 per cent in February. Non-residential building permit values rose through 2017 and peaked toward the end of the year, remaining relatively flat through 2018. Non-residential building permits decreased 0.5 per cent in February.
Comparing January-February 2019 with the same period in 2018, Nova Scotia (+71.2 per cent) reported the largest gain in residential permits in percentage terms. Newfoundland and Labrador (-39.7 per cent) showed the largest decline, year-to-date.
Year-to-date, New Brunswick had the largest gains in non-residential building permits (+58.1 per cent) while Prince Edward Island reported the largest decline (-42.1 per cent).
Total building permits values (seasonally adjusted) were up in three provinces in the first two months of 2019, with Nova Scotia (+36.3 per cent) and New Brunswick (+18.6 per cent) reporting the largest gains (in percentage terms). Alberta reported the largest decline over this period (-29.1 per cent) followed by Newfoundland and Labrador (-24.4 per cent).
Source: Statistics Canada Table 34-10-0066-01
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