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August 04, 2022BUILDING PERMITS, JUNE 2022 Month over month (seasonally adjusted, June 2022 vs. May 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) decreased 11.8% to $229.2 million. Halifax permits decreased 32.0% to $122.1 million. Outside the city, permit values increased 33.5% to $107.1 million. National permits decreased 1.5% to $11.90 billion. Building permit values were up in 4 of 10 provinces, led by Prince Edward Island and Saskatchewan. Newfoundland and Labrador and Manitoba reported the largest declines.
Nova Scotia's residential building permits decreased 8.3% to $190.9 million. Halifax residential permits decreased 26.0% to $105.3 million. Outside the city, residential permit values increased 30.1% to $85.7 million. National residential building permit values increased 3.1% to $8.23 billion. Residential permit values were up in 4 of 10 provinces, led by Prince Edward Island and Quebec. Newfoundland and Labrador and Manitoba reported the largest declines.
Nova Scotia's non-residential building permits decreased 26.0% to $38.3 million. Halifax permits decreased 55.0% to $16.8 million. Outside the city, non-residential permit values increased 49.0% to $21.5 million. National non-residential building permit values decreased 10.4% to $3.67 billion. Non-residential permit values were up in 3 of 10 provinces, led by Saskatchewan and Prince Edward Island. New Brunswick and Newfoundland and Labrador reported the largest declines.
Year-to-date (Jan-Jun 2022 vs. Jan-Jun 2021)
Nova Scotia's total building permits (residential and non-residential) increased 28.1% to $1,376.1 million. Halifax permits increased 41.3% to $831.3 million. Outside the city, permit values increased 12.2% to $544.8 million. National permits increased 12.1% to $70.73 billion. Building permit values were up in 8 of 10 provinces, led by British Columbia and Saskatchewan. Manitoba and Prince Edward Island reported the only declines.
Nova Scotia's residential building permits increased 30.8% to $1,108.4 million. Halifax residential permits increased 42.4% to $667.8 million. Outside the city, residential permit values increased 16.5% to $440.6 million. National residential building permit values increased 5.8% to $46.56 billion. Residential permit values were up in 6 of 10 provinces, led by Newfoundland and Labrador and British Columbia. Manitoba and Prince Edward Island reported the largest declines.
Nova Scotia's non-residential building permits increased 18.1% to $267.7 million. Halifax permits increased 37.0% to $163.5 million. Outside the city, non-residential permit values decreased 2.9% to $104.2 million. National non-residential building permit values increased 26.5% to $24.17 billion. Non-residential permit values were up in 7 of 10 provinces, led by British Columbia and Saskatchewan. Newfoundland and Labrador and Prince Edward Island reported the largest declines.
Overall building permit values in Nova Scotia increased in the first half of 2022 compared with January-June 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 Halifax.
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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