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AGENT LICENSE ID
10288
BROKERAGE LICENSE ID
10288
Robert A. (Bob) Gascon Mortgage Broker

Robert A. (Bob) Gascon

Mortgage Broker


Phone:
Address:
10 Front Street South, Mississauga, Ontario, L5H 2C4

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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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