14 January 2011

Building permits value drops almost 50% in November

The value of all building permits issued in Newfoundland and Labrador in November 2010 dropped 49.3% from the month before, according to figures from Statistics Canada released last week.

The value of non-residential permits dropped 74.5% in the same period while residential permit value increased 4.3%

Those were the largest drops of any Canadian province.

In St. John’s, the value of permits dropped 60% from $149.8 million in October to $59 million in November. Permits in September for St. John’s were valued at $54.5 million.

You can get a better perspective on these figures by comparing them with a post from last December.