The value of residential building permits issued in September was down 1.7% from the previous month with fewer intentions for Ontario apartments weighing on the national figure.

The total value of residential permits was $4.8 billion, a slump of almost $83 million from the previous month, making the third consecutive monthly decline.

Statistics Canada reported that BC led the gains for permits with a 15.6% rise to $1 billion, the third time this year that permits have reached that level. Vancouver CMA apartment intentions drove September’s rise.

Overall permit issuance was up 3.8% to $7.9 billion mostly due to a high-value institutional permit issued in Alberta.

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: