Building permits decline in October

OTTAWA ― The total value of building permits issued by Canadian municipalities decreased 1.5% to $8.3 billion in October. Declines were reported in five provinces, with the largest decrease in British Columbia, where the value of permits fell 21.2% to $1.3 billion. Quebec offset some of this decline, with the value of building permits in that province rising 12.3% to $1.7 billion. The total value of residential permits fell below $5 billion in October for the first time since March 2019. The value of permits declined by 2.9% for single-family and 3.4% for multi-family dwellings. Manitoba reported gains in all categories of permits in October, with the total value surging 74.3% to a record high of $438 million.