September sees big jump in new home permits

The total value of residential permits in September was $203.8 million, compared to $175.9 million in September 2022.

The region also posted a 134% jump from August, which saw $87.1 million worth of residential permits issued. Across Canada, the total monthly value of residential permits increased 4.3% to $7.2 billion in September, led by a 37.2% monthly increase in construction intentions in British Columbia.

The new building permits account for 21,700 new dwelling units nationwide, 5.6% more than August 2023 and 2.3% more than September 2022.