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Permits post monthly retreat

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June 7, 2018

According to figures just released by Statistics Canada, municipalities issued $7.8 billion worth of building permits in April, this was down 4.6 per cent from March, but up 6.5 per cent compared to April of last year. Month-to-month declines were reported in every component except commercial buildings.

In the residential sector, single-family homes took it on the chin, dropping 3.3 per cent from April, and almost nine per cent from 12 months earlier. In addition to the dollar value of permits, the number of dwelling permits also fell in the single-family segment, off 850 units from a year ago, a retreat of 14.3 per cent.

That drop was offset by a considerable rise in multi-family permits. That segment jumped by almost 3,700 units compared to April of 2017, a 35 per cent increase. Month-to-month, the multi-family category was up five per cent over March of this year.

Looking at the industrial, commercial and institutional (ICI) segments, the value of non-residential building permits fell 5.2 per cent, to $2.8 billion in April, following a 1.7 per cent increase in March. This was a 3.4 per cent decline from April of 2017. Compared to March of this year, the value of non-residential building permits declined in four provinces, led by British Columbia and Ontario. Three of the four Atlantic provinces reported higher ICI building permit values.