![Viktor Schaefer, AMP Owner of VS Solutions Inc.](https://agentphotos.mortgageweb.ca/248_profile.png)
Viktor Schaefer, AMP
Owner of VS Solutions Inc.
Office:
Phone:
Email:
Address:
3-20 Brandt Street, Steinbach, Manitoba
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.