The total value of permits across the country fell 4.5% to $5.6 billion during the month, down from a revised $5.9 billion in February. The consensus estimate of analysts was for a 1.2% increase month-over-month in the value of permits. It was the fourth decrease in five months in the value of building permits.

The March results put the finishing touch on a disappointing first quarter, in which the total value of permits came in at $17.3 billion, down 8.2% from the fourth quarter of 2007. Both residential and non-residential permit values were down quarter-over-quarter.

Alberta results skewed the March national figures. Total permits issued in the province plunged 32.0% from the prior month to $997 million, the first time in 13 months the figure has dropped below the $1 billion mark. Both residential (-30.1%) and non-residential (-35.6%) were down sharply from the previous month, with Calgary permits falling 45.1% from February.

Excluding Alberta from the national figures would have resulted in a 5.1% increase in total permit value month-over-month, StatsCan said.

The value of permits issued in Ontario rose 7.3% to $2.1 billion and in Quebec, permits were up 2.7% to $999 million. Saskatchewan recorded a 29.7% increase in total permits to $145.6 million while British Columbia's permits were down 10.1% at $670.9 million.

Nationally, the value of residential permits fell 5.7% in March to $3.6 billion, with permits for multi-family homes down 7.8% in value and single family homes down 4.4%. However, the number of multi-family units approved increased 4.6%, largely on strength in the row house sector, while single-family units fell 8.5% - a continuation of a five-year trend toward more affordable multi-family units, StatsCan said.

Non-residential permits fell 2.4% to $2 billion in March, the lowest level since April, 2007. Industrial permits were down 21.9% to $318 million. Institutional permits were down 4.7% to $454 million while the value of permits in the commercial sector rose 5.3% to $1.2 billion.

StatsCan said the value of non-residential permits has been on a downward trend since late 2007.

In releasing the March results, StatsCan revised its February building permit figures to show a 0.8% month-over-month increase in total dollar value instead of the previously reported 1.0% decline.

By Geoff Matthews, This email address is being protected from spam bots, you need Javascript enabled to view it , edited by Nancy Girgis, This email address is being protected from spam bots, you need Javascript enabled to view it