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July 09, 2019BUILDING PERMITS, MAY 2019 
In May, the value of building permits (seasonally adjusted) issued in Nova Scotia increased 4.1 per cent, following a (revised) decrease of 0.8 per cent in April. Residential permits declined 6.1 per cent while non-residential building permits increased 33.4 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. Afterwards, residential permits resumed an upward trend, reaching a peak in the first months of 2019. The non-residential permits' six-month moving average remained relatively flat from mid-2017 to late 2018. Since then, non-residential permits have trended downward, with some levelling off in recent months.
The trend in Nova Scotia building permit values largely reflects the trends in the Halifax market. The value of Halifax building permits decreased 18.6 per cent in May, reflecting a 24.7 per cent decrease in residential permits and an 18.2 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, reaching a peak in the first months of 2019. Non-residential permits in Halifax have trended down since June 2017.
Outside the Halifax market, building permit values rose 43.0 per cent in May 2019, as residential and non-residential permits increased 44.2 and 41.7 per cent, respectively. Non-residential permits trended upward outside of Halifax from mid-2017 to mid-2018, but have remained relatively flat in recent months. Residential permits have trended upward at a more modest pace.
In January-May 2019, the value of Nova Scotia building permits was up 12.0 per cent compared to the first five months of 2018. Residential permits are 26.4 per cent higher, and non-residential permits are down 14.7 per cent, year-to-date. The decline in non-residential building permits reflects declines in industrial (-33.8 per cent) and commercial (-14.2 per cent), while institutional and government permits were up 49.7 per cent. Halifax building permits were up 13.7 per cent in the first five months of 2019 on strong gains in the residential sector (+43.0 per cent), while building permits outside of Halifax were up 9.5 per cent.
Building permits in Nova Scotia's five economic regions totaled $644.4 million (unadjusted) in the first five months of 2019. The largest contributor was the Halifax region, with a combined residential and non-residential permit value of $411.8 million. Year-to-date, the total value of residential and non-residential permits was up in all regions, with the largest percentage increases in the North Shore, Halifax and Cape Breton.
In the first five months of 2019, the number of residential dwelling-units created (seasonally adjusted) in Nova Scotia was up by 741 units compared to January to May 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 were down 17.2 per cent in May. Non-residential building permit values rose through 2017 and peaked toward the end of the year, remaining relatively flat through 2018 before resuming an upward trend in recent months. Non-residential building permits decreased 5.7 per cent in May.
Comparing January-May 2019 with the same period in 2018, Prince Edward Island (+51.5 per cent) showed the largest gain in residential permits in percentage terms, followed by Nova Scotia (+26.4 per cent). Newfoundland and Labrador (-31.0 per cent) showed the largest decline, year-to-date, followed by Saskatchewan (-24.0 per cent) and Alberta (-21.5 per cent).
Year-to-date, British Columbia had the largest gains in non-residential building permits (+54.4 per cent). Nova Scotia reported the largest decline (-14.7 per cent), followed by Newfoundland and Labrador (-14.5 per cent) and Alberta (-14.5 per cent).
Total value of building permits (seasonally adjusted) was up in six provinces in the first five months of 2019, with Prince Edward Island (+34.0 per cent), British Columbia (+18.1 per cent) and Nova Scotia (+12.0 per cent) reporting the largest gains (in percentage terms). Newfoundland and Labrador reported the largest decline over this period (-22.3 per cent), followed by Alberta (-18.8 per cent) and Saskatchewan (-11.1 per cent).
Source: Statistics Canada Table 34-10-0066-01
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