Building Permits Issuance Decline Nationally

The issuing of residential building permits in December 2016 went down, unlike the number of permits that were given the month before, with a slip as rental apartment’s motive and row houses went down. Statistics Canada, however, said that the fall in permits was eased by intentions which went higher for the construction of condos in the Ontario area, which also profited a month before an amount of $359 million.

The area to see the largest decline in the value of permits given was Vancouver, particularly in the expansion and improvements of multi-family buildings. In that same month, the worth of the permits for metro building decreased by 35.2 per cent to $568 million. Permits that were issued in Edmonton also saw a sharp decline. Despite it was much lower in the dollar terms than Vancouver, the percentage drop of 42.9 per cent was still quite much.

The areas to record the highest increases, were Kitchener-Cambridge-Waterloo and Oshawa, with a 123.3 per cent increase in both the regions over the past month. Nationwide, a total of $2.2 billion permits were issued for the development of multi-family units, recording a decline at most 8 per cent from November, intentions for single-family units also decreased to $2.9 billion by 0.9 per cent.