Housing permit applications rise, pace slows

Residential building permit applications increased by 8.7% in value terms in July, reaching $5 billion, but down from the 16.7% increase seen in June.

Multi-family dwellings amounted to $2.5 billion, up 14.3% but down from the 37% rise seen in June; single-family homes made up the other $2.5 billion with a smaller increase of 3.6%.

In volume terms municipalities approved the construction of 19,555 new dwellings in July, up 10.6% from June. The increase came from both multi-family dwellings, which rose 13.5% to 13,384 new units, and single-family dwellings, which increased 4.8% to 6,171 new units.

Including non-residential permits, the national figure was down in July from the month before, decreasing 0.6% to $7.7 billion in July, following a 15.5% increase in June.

Lower construction intentions in the non-residential sector, mainly in Ontario and Alberta, accounted for much of the decrease at the national level.

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