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%.