Province has largest decline in residential building permits in October: Statistics Canada

British Columbia had the country’s largest decline in the total value of residential building permits in October, according to Statistics Canada data released this morning.

British Columbia had the country’s largest decline in the total value of residential building permits in October, according to Statistics Canada data released this morning.

The total value of residential building permits in the province was $451.2 million in October, down from $543.1 million in September – a decrease of 16.9%.

Nationwide, the dollar value of residential permits declined 4.1% from $4.2 to $4.1 billion.

The provinces with the greatest gains were:

  • Prince Edward Island (25.9%);
  • Newfoundland and Labrador (18.3%); and
  • New Brunswick (16.1%).

Year-over-year, British Columbia’s residential permits decreased 7.7%, from $488.8 million in October 2011, compared with a national increase for the year of 13.4%.

ecrawford@biv.com

@EmmaCrawfordBIV

comments powered by Disqus

Also Read

More From Real Estate

Despite having the highest median housing prices in Canada, Vancouver first-time home buyers spend a median of...

Read Article

$16 million investment hits $20 million in early sales 

Read Article

Growth reverses a decade of stagnation in the 30-to-40 age group, BMO report says

Read Article

B.C.'s housing market posted yet another strong performance in May as...

Read Article

Subscribe to our mailing lists

* indicates required

Newsletters

* You can modify your newsletter subscriptions at the bottom of any newsletter you receive.
×