Section: Real estate

Building permits, December 2016

Published on by Communication service

Building permits, December 2016 -

Building permits, December 2016

Municipalities issued $7.2 billion worth of building permits in December, down 6.6% from November. Lower construction intentions were recorded for all components, led by commercial buildings and multi-family dwellings. In the residential sector, eight provinces posted declines while Ontario reported a record high.

Canadian home sales up from November to December

Published on by Communication service

Canadian home sales up from November to December -

Canadian home sales up from November to December

Highlights:

  • National home sales rose 2.2% from November to December.
  • Actual (not seasonally adjusted) activity in December was down 5.0% from a year earlier.
  • The number of newly listed homes dropped 3.0% from November to December.
  • The MLS® Home Price Index (HPI) in December was up 14.2% year-over-year (y-o-y).
  • The national average sale price climbed 3.5% y-o-y in December.

Building permits, November 2016

Published on by Communication service

Building permits, November 2016 -

Building permits, November 2016

Municipalities issued $7.8 billion worth of building permits in November, down 0.1% from the previous month. The decline was largely the result of lower construction intentions in Alberta, following a spike the previous month due to impending changes to the Alberta Building Code.

In the residential sector, the value of building permits fell 1.6% to $5.1 billion in November, following three consecutive monthly increases. Declines were posted in four provinces, led by Alberta. The largest gains were posted in British Columbia and Quebec.

Building permits, October 2016

Published on by Communication service

Building permits, October 2016 -

Building permits, October 2016

Municipalities issued $7.6 billion worth of building permits in October, up 8.7% from September. Higher construction intentions for commercial structures and residential dwellings in Alberta were responsible for much of the gain, as builders filed permits in advance of the changes in the provincial Building Code.

Bank of Canada maintains overnight rate target at 1/2 per cent

Published on by Communication service

Bank of Canada maintains overnight rate target at 1/2 per cent -

Bank of Canada maintains overnight rate target at 1/2 per cent

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.

Economic data suggest that global economic conditions have strengthened, as the Bank anticipated in its October Monetary Policy Report (MPR). However, uncertainty, which has been undermining business confidence and dampening investment in Canada’s major trading partners, remains undiminished.