Building permits jumped in May

There was a 10.8 per cent rise in the value of residential building permits issued in May compared to the previous month.

The total value of $5.0 billion was driven by a 15 per cent rise in intentions for multi-family units to $2.3 billion and a 7.4 per cent rise for single-family homes to $2.7 billion.

Approvals were granted for 18,037 homes in May, Statistics Canada reported, up 7.2 per cent from April.

Ontario contributed the largest share of the gains in both value and volume terms. British Columbia reported a second consecutive monthly gain in new multi-family units approved following a notable decrease in March 2017, while over 100 new multi-family units were approved in Prince Edward Island for just the fourth month since January 1989.

Non-residential permits were up 5.6 per cent to $2.7 billion with Alberta and New Brunswick leading the intentions in the sector.

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