Ontario drags permits to third consecutive decline

The value of residential building permits issued in September was down 1.7% from the previous month with fewer intentions for Ontario apartments weighing on the national figure.

The total value of residential permits was $4.8 billion, a slump of almost $83 million from the previous month, making the third consecutive monthly decline.

Statistics Canada reported that BC led the gains for permits with a 15.6% rise to $1 billion, the third time this year that permits have reached that level. Vancouver CMA apartment intentions drove September’s rise.

Overall permit issuance was up 3.8% to $7.9 billion mostly due to a high-value institutional permit issued in Alberta.

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