All provinces recorded increases as the value of building permits rose strongly in April, Statistics Canada reported today.
Contractors took out $6.4 billion worth of permits in April, up 14.5% from March and the highest level since October 2007.
The value of residential building permits increased 13.4% to $4 billion, the most in six months.
The value of non-residential permits advanced 16.5% to $2.4 billion, due to strong commercial intentions.
Municipalities issued $1.9 billion worth of permits for multi-family housing, up 39.9% from March and the highest level since December 2005.
The value of single-family permits fell 2.4%.
The number of multi-family units approved increased 19.1%, while the number of single-family units declined 0.6.
The value of commercial permits rose 20.2% to $1.5 billion. The value of industrial permits rose 6.7% to $335 million after a 22.9% drop in March.
In the institutional component, builders took out $524 million in permits, a 13% increase after two straight monthly drops.
Value of building permits soars in April: StatsCan
$6.4 billion worth of permits the highest level since October 2007
- By: IE Staff
- June 5, 2008 June 5, 2008
- 08:45