Sep 8, 2011, Edmonton building-permit values enjoy gentle uptick

While Alberta and Canada posted strong gains in the value of building permits in July, Edmonton saw a more modest boost.Statistics Canada said Thursday the value of construction intentions in the Edmonton census metropolitan area grew by one per cent to $359.7 million, compared to a year earlier.

The city lagged behind Alberta, which posted a 17.7-per-cent annual increase to $1.1 billion. Residential permits in the province increased 9.3 per cent while non-residential permits soared 31.6 per cent.

Calgary recorded $370.5 million in building permits for July, up 30.3 per cent from a year earlier.

Nationally, the value of building permits surged 6.3 per cent in July to $7 billion, matching a record set in May 2007, Statistics Canada reported Thursday.

This third straight monthly gain surprised economists, who were expecting a decline of 1.5 per cent.

Gains were led by the residential sector, in which the value of permits climbed 14.6 per cent to $4.3 billion, largely because of intentions to build multi-family dwellings in Ontario, the federal agency said. It was the sector’s third consecutive monthly gain and the highest level reached since December 2005.

Non-residential permits fell 4.5 per cent in July to $2.7 billion. Within this category, industrial permits were down 40.1 per cent, institutional permits up 17.1 per cent and intentions for commercial facilities were flat.

By Journal Business Staff