Stats Canada: Building Permits Exceed Expectations

The numbers for building permits in Canadian municipalities have been released by Statistics Canada. The actual data has beat analysts expectations. Over $5.8 Billion in permits has been issued by cities. This was lead by the non- residential sector, as the residential sector experienced declines.

The $5.8 billion represents a 9.9% increase over January. Most of the residential declines were in Ontario and Quebec. However, most of the non-residential increases were in Alberta and Ontario. Non residential permits were valued at $2.8 billion up 72.9% in 5 provinces including British Columbia, Prince Edward Island and Manitoba. $884.4 million was issued in industrial permits.

Residential permits fell across the board. Multi family permits fell 34.4% to $892 million. This is the first time in a year, that value is under $1billion. Single family home permits are down 8.6% to 2.1billion.

Permit values have gone up in 23 of the 34 metropolitan areas surveyed. This was led by Edmonton,  Calgary, London Ontario and the Golden Triangle cities of Kitchener, Waterloo and Cambridge.



About wojciechpianka

After a few years of studying English and History at the University of Toronto, I decided to transfer to Ryerson University and pursue a Bachelor of Commerce degree. While studying, I worked various jobs where I acquired many skills. Starting as a teller at Scotiabank, I moved on to being a manager of a restaurant, admin staff at a medical clinic, a sales agent for INGDirect and a manager at One King West Hotel. While all these jobs challenged me, I never felt my potential being utilized. Finally in 2008, I completed the Ontario Mortgage Agent Course and signed up with The Mortgage Alliance Company of Canada. This was a great decision, as it allowed me to use the skills I learned working to help people achieve their real estate and financial goals. My passion for real estate and numbers has lead me to becoming a mortgage agent. Growing up in New York City, I always had a fascination of historic buildings and skyscrapers. At 21, I bought my 1st property and have been investing in real estate ever since. I firmly believe thru steady, safe and conservative investing a one can obtain long term financial wealth. One day, I hope to develop the same buildings I help clients purchase.
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