Permits increase 1.6% Stats Canada Nov 6, 2009 - 7:22:14 PM RSS?

The value of building permits increased 1.6% to $5.1 billion in September. This second consecutive monthly increase came from higher intentions in the residential sector, which more than offset a decline in the non-residential sector.

The value of residential permits increased 9.4% to $3.2 billion, a level not seen since September 2008. The increase was mainly a result of gains in the value of multi-family dwellings, especially in British Columbia and Ontario.

In the non-residential sector, the value of permits fell 9.1% to $1.9 billion in September. The decline largely reflects drops in the institutional and commercial components in British Columbia.

Overall, the value of building permits fell in three provinces (British Columbia, Manitoba, Newfoundland and Labrador) and two territories (Nunavut and Yukon).

Residential sector: Higher intentions for multi-family permits

Municipalities took out $1.1 billion worth of building permits for multi-family dwellings, up 32.1% from August. This increase was fuelled by higher construction intentions in eight provinces and two territories, led by British Columbia and Ontario.

The value of single-family permits edged up 0.2% to $2.1 billion. Intentions in this component increased in six provinces, which was enough to offset a 5.4% drop in Ontario.

Municipalities approved the construction of 15,250 new dwellings in September, up 13.3%. The increase was largely attributable to multi-family dwellings, which rose 27.8% to 7,835 units.

The number of single-family dwellings approved rose 1.2% to 7,415 units.

LendingMax - Mortgage solutions for Canadians.