There was a decline in building permits issued by Canadian municipalities in March according to newly-released data.

Statistics Canada says that overall permit issuance in April of $7.8 billion was 4.6% lower than in March with all sectors except commercial recording lower values.

Overall the decline was led by British Columbia where the value of permits decreased 22.6% to $1.2 billion, following a record high in March ($1.6 billion). However, March’s boom was partly impacted by several permits valued at over $100 million each.

The nationwide residential sector saw permit issuance drop 4.3% to $5.1 billion with five provinces posting declines, again led by British Columbia.

Multifamily permits totalled $2.7 billion, down 5.2% from March with four provinces contributing to the drop led by British Columbia and Alberta.

The value of single-family permits fell 3.3% to $2.3 billion, a fourth consecutive monthly decline. Ontario and British Columbia led declines in 8 provinces while Alberta recorded the largest gain, up $46 million from March.

Municipalities approved the construction of 19,372 new dwellings in April, up 3.6% from the previous month. The multifamily sector gained 5.0% to 14,189 new units. Single-family dwellings edged down 0.2% to 5,183 new units.


Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

More market watch: