Building permits lower in August

The value of building permits issued in August was down 3.7 per cent to $7.5 billion according to new figures from Statistics Canada. The decline, following increases in June (15.5 per cent) and July (revised to 0.7 per cent) was led by multifamily units which saw an 8.3 per cent drop. Single-family dwellings were down by 1.9 per cent to $2.4 billion. Overall there were 5.1 per cent fewer permits issued for residential properties while the non-residential sector was down 1.3 per cent to $2.8 billion.

In August, the total value of building permits fell in every province and territory except Ontario, Newfoundland and Labrador and the Northwest Territories. British Columbia, Alberta, Quebec and Saskatchewan saw the largest decreases. The total value of permits was down in 22 of the 34 census metropolitan areas. Vancouver, Calgary, Edmonton, Oshawa and Montréal posted the largest declines.

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