Multi-family units drive housing permits

  8/10/2015 |   SHARE
Posted in Real Estate News by Vanguard Realty | Back to Main Blog Page

Housing permit applications increased in June led by multi-family units in Quebec, Alberta and Ontario. Figures from Statistics Canada show that institutional building intentions in Alberta and commercial buildings in Alberta were also key components of the rise. Overall the dollar value of permits was up 14.8 per cent to $7.7 billion following a 13.9 per cent decrease in May. Saskatchewan was the only province where permit values did not increase and Alberta, Quebec, Ontario and BC registered the largest increases.

Multi-family unit permits soared by 36.9 per cent to $2.2 billion in June led by Quebec, Ontario and Alberta; there was a slight dip in BC following a strong month in May. Single-family dwelling intentions were up by 1.6 per cent to $2.4 billion with New Brunswick, Manitoba, Saskatchewan and Ontario recording the largest gains and Alberta seeing a second consecutive monthly decline.

The total value of building permits, including non-residential,  was up in 24 of the 34 census metropolitan areas in June, with Calgary, Montréal, Toronto and Vancouver posting the largest increases.

Canada, Canada Real Estate, Home Buyers, Housing, New Developments