As a result of declines in both the residential and non-residential sectors, the value of building permits in Canada fell 13.5% to $5.6 billion in August, a level similar to the one observed in March 2008, according to Statistics Canada. On a year-to-date basis, permits were down 0.7% from the same period last year.
In the residential sector, the value of building permits declined by 9.3% to $3.4 billion. This decline was mainly due to a 17.5% drop in multi-family dwellings, coupled with a 3.8% decline in single-family dwellings. New Brunswick (+42.5%), Saskatchewan (+2.6%) and Prince Edward Island (+1.5%) were the only provinces with increases in the residential sector.
After …
Canadian Housing Permit Value Falls 13.5% in August
As a result of declines in both the residential and non-residential sectors, the value of building permits in Canada fell 13.5% to $5.6 billion in August, a level similar to the one observed in March 2008, according to Statistics Canada. On a year-to-date basis, permits were down 0.7% from the same period last year.
In the residential sector, the value of building permits declined by 9.3% to $3.4 billion. This decline was mainly due to a 17.5% drop in multi-family dwellings, coupled with a 3.8% decline in single-family dwellings. New Brunswick (+42.5%), Saskatchewan (+2.6%) and Prince Edward Island (+1.5%) were the only provinces with increases in the residential sector.
After …
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