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MNI DATA IMPACT: Canada Building Permits at 2nd Highest Ever> 

By Greg Quinn 
     OTTAWA (MNI) - Canadian building permits rose to the second highest 
ever in January as Vancouver developers accelerated work ahead of a fee 
increase.
     The value of permits increased 4% to CAD9.25 billion, Statistics 
Canada said Monday from Ottawa. The MNI economist median called for a 3% 
decline.
     Housing rose 13% to CAD 5.78 billion, second only to April of last 
year when the same type of increase in Vancouver fees also led to a 
spike. Vancouver building permits surged 82% to CAD 1.48 billion in 
January. 
     The report is a reminder of the intense demand for housing in 
Vancouver, where surging prices and a run-up of mortgage debt has led 
to warnings from policy makers. Governments have imposed rules to 
curb speculation in Vancouver and Toronto while seeking to encourage new 
supply to make homes more affordable. 
     The Toronto area showed some fresh life in January as the regional 
city of Brantford saw a 341% jump in single-family home permits to CAD 
41 million. 
     Non-residential permits fell from December's record high of CAD 
3.76 billion, down 7.8% to CAD 3.47 billion. Institutional permits for 
projects such as schools and hospitals led the decline, following a 
strong gain in December.  
--MNI Ottawa Bureau +1-613-314-9647; greg.quinn@marketnews.com 
[TOPICS: MACDS$,M$C$$$,MAUDR$]
USData StoriesImpactDataPolicy NewsCanadaAPACChinadata-Headline Bank of Canada Market NewsHeadlineFixed Income BulletsForeign Exchange BulletsRegionNorth America
USData StoriesImpactDataPolicy NewsCanadaAPACChinadata-Headline Bank of Canada Market NewsHeadlineFixed Income BulletsForeign Exchange BulletsRegionNorth America
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