MNI BRIEF: Canada Housing Permits Lowest Since At Least 2018
Nov-12 15:47By: Greg Quinn
Bank of Canada+ 2
Canadian building permits for housing fell to the lowest since 2018 in the third quarter, undermining the government's goal of doubling the pace of construction to help with an affordability squeeze.
The value of permits has weakened since the first quarter and fell 1% to CAD21.4 billion in the third quarter, the lowest value in constant dollars for comparable data back to 2018, Statistics Canada said Wednesday. Multi-unit projects in Montreal led with a CAD568 million decrease. (See: MNI INTERVIEW: Canada Home Agency Sees Deeper Supply Shortfall)
