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The number of residential building permits issued in June ticked up slightly from May, but the overall value fell 1.8 per cent to $6.9 billion, a dip that comes after several months of steady growth in the construction sector.
The data, released Aug. 9 by Statistics Canada, showed the value decline was largely driven by Ontario, which experienced a significant drop of 11.4 per cent, or $358.1 million. The decline was noteworthy given the province had exhibited strong growth in May, primarily due to the initiation of large multi-unit projects.
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Saskatchewan and New Brunswick also experienced large declines of 51.4 per cent ($58.5 million) and 20.5 per cent ($20.7 million), respectively. These provinces faced challenges that impacted their housing permit activity, contributing to the overall decrease in the national figures.
On a more optimistic note, the report highlighted that despite these declines, there were gains in the remaining seven provinces. This suggests the slowdown is not uniform across the country.
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“Across Canada, permits for 22,000 new dwellings were issued in June,” the release said. This figure surpasses the permit count from May by a margin of 500 additional permits.”
• Email: shcampbell@postmedia.com