Housing permits gain as commercial slumps

There was a 2.6 per cent rise in the value building permits issued for residential buildings in September compared to August, totalling $4.6 billion.

It was the second consecutive rise for the sector and was driven by multi-family intentions which increased 3.7 per cent to $2 billion. The gains were mostly in rental apartments with condos slipping. Ontario and Alberta gained while the other provinces declined, led by British Columbia.

Commercial building permits meanwhile, declined 20.8 per cent to $1.2 billion following three monthly increases. Only Newfoundland and Labrador gained with Ontario leading the declines.

The total value of all permits issued in September was down 7.0 per cent from August with a total value of $6.9 billion.

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