The total value of residential building permits issued in Canada last month has pulled back from a peak in March, led by a double-digit decline in British Columbia.
More than $7.7 billion in residential permits were issued nationally in April, down 6.7% from a record high of more than $8 billion in March. Monthly declines in B.C. (-23.7%) and Quebec (-14.9%) contributed most to that change, according to new data from Statistics Canada.
Provincially, B.C. issued $1.1 billion in residential permits last month, up nearly 23% over April 2020, and which account for the majority of the $1.55 billion in total permits issued. Non-residential building permits surged 29% month-to-month to $443 million.
Overall declines in permit values were concentrated in Metro Vancouver (-28.9%) and Abbotsford-Mission (-62.4%). Values edged down in Kelowna (-1.6%) and soared 47.7% in Victoria.
Year-over-year, building permit values in B.C.'s capital region are up 116.6%.