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Nov Homebuilding Permits at Record High

CANADA DATA
(MNI) OTTAWA
  • Residential building permits +10% to record CAD6.4b; +34% YOY
  • Multi-unit housing +15% MOM, +41% YOY; singles +4% MOM, +26% YOY
  • Housing boom fed by low mortgage rates, pent-up demand after spring lockdown, and people seeking bigger properties amid social distancing rules
  • BOC has said this boom comes without signs of dangerous speculation seen a few years ago
  • Total building permits +13% MOM to CAD9.4b, 3rd highest ever; +16% YOY
  • Non-residential +20% MOM to CAD3b; -9% YOY
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com

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