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Building permits for June 2024

Statistics Canada has released its building permits for June 2024.

The total value of building permits in Canada fell 13.9 per cent to $9.9 billion in June, extending the decline observed in May. Decreases were reported in 11 of the 13 provinces and territories, with both residential and non-residential sectors experiencing reductions.

On a constant dollar basis, the total value of building permits declined 14.3 per cent in June, following a 13.4 per cent decline in May.

Single-family dwelling permits see modest growth amid overall residential decline

The total value of residential permits decreased 11.5 per cent to $6.5 billion in June. Overall, nine of the 13 provinces and territories contributed to this decline in residential permits.

Substantial declines in multi-unit construction intentions led the overall residential decline in June. Ontario and British Columbia drove the drop in multi-family dwelling permit values, with Ontario reporting the largest monthly decrease since December 2023.

Meanwhile, construction intentions in single-family homes moved up four per cent to $2.6 billion in June 2024.

In June, Canadian municipalities authorized 20,400 dwelling units, bringing the total over the last 12 months to 263,400 units since July 2023.