PORTLAND, OR , March 6, 2014 (RISI) -
The total value of building permits issued by Canadian municipalities rose 8.5% to $7.0 billion in January, following a 4.8% decrease in December. After two consecutive monthly decreases, construction intentions for residential dwellings rose 26.3% to $4.6 billion. Construction intentions for multi-family dwellings rose 42.8% to $2.1 billion in January, following a 21.9% decrease in the previous month. The value of building permits for single-family dwellings increased 15.0% to $2.5 billion in January, the highest level since September 2012.
Nationally, municipalities approved permits for the construction of 18,366 new dwellings, up 17.4% from December. This increase was attributable to multi-family dwellings, which rose 20.9% to 11,580 units, and single-family dwellings, which increased 11.8% to 6,786 units.
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