MEREDITH KAMINSKY
Accredited Mortgage Professional
Office:
Phone
Address:
Unit 100 -99 Scurfield Boulevard, Winnipeg, Manitoba R3Y 1Y1
Residential permits continue to trend down since March peak
Oct 7
2021Residential permits decreased 8.3% to $6.4 billion in August, the lowest level since March. Ontario and British Columbia drove most of the decline.
Construction intentions for multi-family units fell 15.9%, largely reflecting Ontario's decline (-24.3%). This was despite the approval of high value condominium projects in the city of Toronto.
In contrast, single family intentions were up slightly (+1.2%), led by a 15.7% gain in Quebec. Additionally, Newfoundland and Labrador (+0.7%) reported the first provincial increase in this component after six consecutive monthly declines.
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