The value of building permits issued by municipalities for residential properties was down 5 per cent to $4.1 billion in June compared to the previous month.
The drop was led by intentions for multi-family units, down 15.8 per cent to $1.7 billion, especially in Ontario and BC but also recorded in 5 other provinces.
There was better news for single-family home permits which increased for the fourth time in 5 months; up 4.2 per cent to $2.4 billion. The increases were led by Ontario but included 6 other provinces.
In volume terms, there was an 8.1 per cent drop in permits issued with 14,960 approvals. Multi-family made up 9,280 of the permits, down 13.7 per cent in June compared to May; 5,680 permits were issued for single-family homes, up 2.7 per cent.
For non-residential permits, the value was down 6.2 per cent to $2.3 billion led by lower construction intentions for institutional buildings.
Overall, Vancouver was the metro with the largest decline in permits issued, down 25.2 per cent in value terms to $580 million, led by lower intentions for multi-family and (to a lesser extent) commercial buildings.
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