{"id":37301,"date":"2023-08-09T14:06:51","date_gmt":"2023-08-09T14:06:51","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2023\/08\/09\/canadian-housing-permits-decline-to-6-9-billion-in-june\/"},"modified":"2023-08-09T14:06:51","modified_gmt":"2023-08-09T14:06:51","slug":"canadian-housing-permits-decline-to-6-9-billion-in-june","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2023\/08\/09\/canadian-housing-permits-decline-to-6-9-billion-in-june\/","title":{"rendered":"Canadian housing permits decline to $6.9 billion in June"},"content":{"rendered":"

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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.<\/p>\n

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.<\/p>\n<\/p><\/div>\n

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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.<\/p>\n

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.<\/p>\n

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