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AGENT LICENSE ID
M13002109
BROKERAGE LICENSE ID
13034
Gurpreet Ubhi Mortgage Agent - Level 2

Gurpreet Ubhi

Mortgage Agent - Level 2


Phone:
Address:
Suite 102 - 989 Derry Road East, Mississauga , Ontario, L5T 2J8

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Residential permits continue to trend down since March peak

10/7/2021

Residential permits decreased 8.3% to $6.4 billion in August, the lowest level since March. Ontario and British Columbia drove most of the decline.

Construction intentions for multi-family units fell 15.9%, largely reflecting Ontario's decline (-24.3%). This was despite the approval of high value condominium projects in the city of Toronto.

In contrast, single family intentions were up slightly (+1.2%), led by a 15.7% gain in Quebec. Additionally, Newfoundland and Labrador (+0.7%) reported the first provincial increase in this component after six consecutive monthly declines.

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