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May 30, 2008|
Construction intentions across Canada dropped 4.5 per cent in March to $5.6 billion, the fourth decline in five months, according to the latest figures from Statistics Canada. The biggest overall decline was in the formerly red-hot province of Alberta, with significant reductions in both the residential and non-residential sectors leading to a decrease of 32.9 per cent. By contrast, the condo boom in Ontario still shows no signs of slowing down. The 7.3 per cent increase in permits for Ontario was led by a rise in intentions for multi-family dwellings that more than offset a fifth decrease in six months in the non-residential sector.
Nationally, the value of non-residential building permits fell sharply. Industrial permits fell by 21.9 per cent to $318 million due to declines in projects for utility buildings. On the institutional side, permits fell another 4.7 per cent in March to $454 million after posting a 32.3 per cent drop in February.
www.statcan.ca
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