Data from the Municipal Property Assessment Corporation (MPAC) revealed that Ontario issued 108,080 building permits for new developments and home improvements, re
presenting an 11.6% decrease from the previous year. This is the first time in three years that a decline has been reported. MPAC attributes the decrease to people's new priorities after COVID-19 restrictions were lifted, such as experiences and travel, and higher interest rates. Residential home improvement permits decreased by more than 9%, with Toronto being the only municipality that saw an increase. Swimming pool, shed, and garage permits also decreased.
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