The value of building permits issued in September dropped according to Statistics Canada. It was the second consecutive month of decline with a 6.7 per cent drop to $7.1 billion for all permits types. Residential permits fell 11.6 per cent in value terms, led by Ontario, followed by Saskatchewan and Quebec. Manitoba and Alberta registered the largest increases in residential construction intentions. Broken down further, Ontario led a large drop in permits for multi-family dwellings (down 20 per cent) with single-family home permits down 3.7 per cent.
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: