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January 09, 2023BUILDING PERMITS, NOVEMBER 2022 Month over month (seasonally adjusted, November 2022 vs October 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) increased 1.0% to $191.8 million. Halifax permits decreased 11.4% to $107.1 million. Outside the city, permit values increased 22.9% to $84.8 million. National permits increased 14.1% to $11.03 billion. Building permit values were up in 7 of 10 provinces, led by Prince Edward Island. New Brunswick and British Columbia reported the largest declines.
Nova Scotia's residential building permits increased 6.8% to $144.4 million. Halifax residential permits increased 0.6% to $82.9 million. Outside the city, residential permit values increased 16.5% to $61.6 million. National residential building permit values increased 13.7% to $7.10 billion. Residential permit values were up in 5 of 10 provinces, led by Prince Edward Island and Ontario. New Brunswick and Saskatchewan reported the largest declines.
Nova Scotia's non-residential building permits decreased 13.2% to $47.4 million. Halifax permits decreased 37.2% to $24.2 million. Outside the city, non-residential permit values increased 43.8% to $23.2 million. National non-residential building permit values increased 14.9% to $3.93 billion. Non-residential permit values were up in 5 of 10 provinces, led by Prince Edward Island. British Columbia reported the largest decline.
Year-to-date (January-November 2022 vs January-November 2021)
Nova Scotia's total building permits (residential and non-residential) increased 11.7% to $2,403.6 million. Halifax permits increased 20.3% to $1,485.4 million. Outside the city, permit values increased 0.04% to $918.2 million. National permits increased 7.9% to $125.2 billion. Building permit values were up in 7 of 10 provinces, led by British Columbia. Prince Edward Island, Manitoba and Quebec reported declines.
Nova Scotia's residential building permits increased 17.2% to $1,926.5 million. Halifax residential permits increased 26.6% to $1,186.7 million. Outside the city, residential permit values increased 4.7% to $739.8 million. National residential building permit values increased 3.7% to $82.8 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 decreased 6.1% to $477.1 million. Halifax permits increased 0.5% to $298.7 million. Outside the city, non-residential permit values decreased 15.5% to $178.4 million. National non-residential building permit values increased 17.1% to $42.4 billion. Non-residential permit values were up in 7 of 10 provinces, led by British Columbia. Newfoundland and Labrador and Nova Scotia reported the largest declines.
Overall building permit values in Nova Scotia increased in the first eleven months of 2022 compared with January-November 2021. This reflects an increase in all residential permit types across the province, with the exception of multiple dwelling buildings outside Halifax. Non-residential permit values were down year-to-date on declines in institutional/government as well as industrial permit values, which offset the gains in commercial projects.
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 rising sharply since 2020, residential permit values have recently started to trend down.
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 and industrial building permits have declined. Outside the city, permits are trending down in 2022, particularly for industrial and government/institutional projects.
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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