Toronto Building Permits Fall 11% in April, Lead National Drop

Construction intentions cooled in Canada’s largest city in April.

The value of building permits in Toronto fell 11 percent from March, Statistics Canada reported Wednesday. They were down 39 percent from the same month a year earlier, the most since December 2012.

Toronto’s booming housing market is frequently cited along with Vancouver’s as a cause for concern, as price gains outstrip those in other parts of the country.

For the first time since February 2014, declines in Toronto permits were reported in each of the five categories, including single- and multi-family dwellings and commercial buildings.

Nationally, permits fell 0.3 percent, versus the median forecast in a Bloomberg survey for a 1.5 percent increase.

The value of permits in Calgary rose 76 percent in April from the previous month.

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