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- Canadian municipalities issued $7.5 billion worth of building permits in August
Canadian municipalities issued $7.5 billion worth of building permits in August
Canadian municipalities issued $7.5 billion worth of building permits in August, down 5.5% from July. This was the second consecutive monthly decrease. Despite these declines, the year-to-date value of building permits (January to August) is up 8.7% compared with the same period in 2016, reflecting a $3.1 billion increase in multi-family dwellings.
Total construction intentions for multi-family dwellings in Canada declined in August, down 6.0% from July. However, the sector has been on an upward trend since 2009.
This upward trend has gradually closed the gap between the value of multi-family dwellings and single-family dwellings. June 2017 was the first month where the value of multi-family dwelling permits for Canada surpassed the value of single-family dwelling permits. Overall, the multi-family component was $294.3 million higher than the single-family component in June, and $8.1 million higher in July.
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