Building permits decline despite single-family rebound

The value of residential building permits slipped 2.2% in July, the first decline since April.

Canada’s municipalities issued $5 billion worth of permits as lower intentions for multi-family units (down 7.4% from June to $2.5 billion) offset a 3.6% gain for single-family units (to $2.5 billion). In June, single-family permits had fallen 11.7%, the Statistics Canada data shows.

The number of multi-family units approved was down 4.2% to 13,830 while single-family approvals were up 4.6% to 5,754.
Non-residential permits fell 5.7% in July to $2.9 billion, largely due to a 14.7% drop for commercial buildings to $1.5 billion.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release

Poll

Do you invest in commercial properties?