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Sean Donohue Mortgage Broker

Sean Donohue

Mortgage Broker


Address:
775 Blackburn Mews West, Kingston, Ontario

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Ontario weighs down residential permits nationally

9/7/2021

The total value of building permits in Canada decreased 3.9% to $9.9 billion in July. All provinces except British Columbia and Newfoundland and Labrador posted lower values, with the majority of the national decline reported in Alberta (-23.4%). Building permits fell 3.1% in the residential sector and 5.6% in the non-residential sector.

On a constant dollar basis (2012=100), building permits fell 3.8% to $7.0 billion.

Seven provinces reported declines in the residential sector, led by Ontario (-10.5%).

Single-family permits fell 9.6% in July, with two provinces showing growth. Ontario (-9.1%) contributed the most to the decrease.

Construction intentions for multi-family units rose 2.7% in July. British Columbia posted an increase of 55.1%, which was driven by high-valued condo projects in the city of Surrey. In contrast, Ontario reversed strong growth in June (+67.6%) and fell 11.7% in July due to fewer high-valued condo permits reported for the census metropolitan areas (CMA) of Hamilton and Guelph.

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