Economy
January 9, 2014
Canadian Building Permits Fall in November
Written by Sandy Williams
Canadian building permits declined in November to 18,173, falling 3.6 percent from October. The value of permits issued dropped 6.7 percent to $6.8 billion after gaining 8 percent the previous month. Permit values have been an upward trend with eight monthly increases in 2013.
In the residential sector, the total value of permits declined 7.6 percent to $4.1 billion in November. Permit values for multi-family dwellings fell 8.7 percent in November to $1.9 billion after posting two months of gains. Single-family dwelling permits fell 6.7 percent to $2.2 billion. A total of 18,173 residential housing permits were issued in November with multi-family falling 3.9 percent to 12,027 units and single-family dwellings down 3.1 percent to 6,146 units. Year-over-year, residential permits dropped 5.7 percent for single family units but rose 23.4 percent for multi-family units.
