There was a double-digit drop in the value of residential building permits issued by Canadian municipalities in September, the latest month’s data published by Statistics Canada.
Residential permits totaled $5.1 billion, down 10.7% from the previous month with multifamily permits down 12.1% to $2.9% and single-family permits down 8.7% to $2.2 billion.
The drop in multifamily resulted from declines in 8 provinces with Nova Scotia and Alberta the only ones to post gains. For single-family, Ontario led the declines after a strong August.
Non-residential permits issued totaled $2 billion, up 6.1% with several high-value office projects in the Vancouver CMA providing the largest boost. The increase in the value of commercial permits more than offset declines in the value of industrial and institutional permits.
The total value of permits issued across residential and non-residential sectors in September was $8.3 billion, down 6.5%.
Looking back over the third quarter of 2019, Municipalities issued $25.7 billion of permits, down 1.2% from the previous quarter.
BC saw the largest decrease – down 17.0% to $4.7 billion – following a strong second quarter.
Meanwhile, Ontario was up 6.1% to a record quarterly value of $10.7 billion, largely due to the value of multi-family permits.
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