Falling interest rates are not triggering new construction in this country.
The latest figures show building permits issued by local governments across the nation were falling in November. That was the second decline nationally and come in the face of falling interest rates which should encourage long-term investment in property.
StatsCanada says this was evident in both the residential and non-residential sectors.
Declining permit values were pretty general across the country with Ontario and BC being especially noticeable. Saskatchewan was at the other end of the scale, posting 15-percent growth. That was second only to PEI.
The Saskatchewan gains were centred in Saskatoon. Permit values in the Bridge City rose 16-percent for the month while Regina saw values decline by more than 20-percent.
The rest of the province also did fairly well with overall provincial numbers rising by 15-percent for the month and 26-percent for the year. All of that was in the non-residential sector. And, despite all the talk about housing shortages, permit values in this category actually went down in Saskatchewan.
