Construction intentions maintained their sizzling pace this spring, as the value of building permits issued followed a record-breaking month in May with another strong showing in June, Statistics Canada reported today.
Municipalities issued $6.9 billion worth of building permits in June, down only 0.4% from May and the second-highest on record, surpassed only by May’s peak.
Non-residential permits declined 10% to $2.8 billion as all three components (industrial, commercial and institutional) fell.
In the residential sector, intentions climbed 7.4% to more than $4.1 billion, only the second time residential permits have surpassed the $4 billion mark.
The demand for new dwellings remained notably strong as a total of 21,515 new units were approved in June, a number surpassed only twice since 1990.
The second quarter of 2007 was the highest on record for the total value of building permits, with construction intentions reaching $19.5 billion, up 13.6% from the first quarter of 2007.
Strong quarterly growth was recorded in both the residential (up 12.9%) and non-residential (14.5) sectors.
June building permits maintain sizzling pace
Q2 2007 the highest on record for the total value of building permits
- By: IE Staff
- August 3, 2007 August 3, 2007
- 09:35