(Adds details of release, background)
OTTAWA, Jan 8 (Reuters) - The value of Canadian building
permits issued in November fell 19.6 percent on widespread
declines in the energy-producing province of Alberta, which had
seen a boom in October, Statistics Canada said on Friday.
The decline - far greater than the 3.0 percent drop forecast
by analysts in a Reuters poll - was the greatest since the 26.7
percent retreat seen in August 2014.
Alberta saw record demand in October as contractors rushed
to apply for permits ahead of planned changes to the province's
building codes. The frenzy cooled off in November, dragging down
the entire Canadian market.
The value of residential building permits dropped by 17.8
percent in November while non-residential permits nose-dived by
22.7 percent.
High prices for single-family dwellings are contributing to
a shift in demand for apartments. From January to November, 66.2
percent of new residential units approved were multi-family
dwellings.
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Graphic - Canada building permits http://link.reuters.com/det73t
Graphic - Canada economic dashboard http://graphics.thomsonreuters.com/15/sc-canada/index.html
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