NEWS
08/08/2016 06:02 EDT | Updated 08/09/2017 01:12 EDT

Canadian building permits fall in June, primarily in residential sector

OTTAWA — Statistics Canada is reporting that the value of building permits issued by cities in June was $6.4 billion, down 5.5 per cent from the previous month.

The federal agency says the decline was mainly because of reduced construction intentions for multi-family dwellings and institutional buildings.

It says the residential sector accounted for $4.1 billion of building permits, down five per cent.

Non-residential permits were down 6.2 per cent to $2.3 billion.

Ontario and British Columbia, which have two of Canada's most expensive real estate markets, led the declines in June.

The relatively small market in Northwest Territories also fell about 91 per cent to $9.8 million while Saskatchewan posted a 72.4 per cent gain, rising to $288 million.