Housing starts in Quebec were trending at 31,419 units in July, compared to 31,944 units in June, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

Municipalities issued building permits worth $6.4 billion in June, down 5.5% from the previous month. Lower construction intentions for multi-family dwellings and institutional buildings were mostly responsible for the decline.

In the residential sector, the value of building permits fell 5.0% to $4.1 billion. This was the third consecutive monthly decline.

Housing starts in Quebec were trending at 32,051 units in June, compared to 32,658 units in May, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

The Bank of Canada announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.

Inflation in Canada is on track to return to 2 per cent in 2017 as the complex adjustment underway in Canada’s economy proceeds. The fundamentals remain in place for a pickup in growth over the projection horizon, albeit in a climate of heightened uncertainty.

• National home sales fell 0.9% from May to June.
• Actual (not seasonally adjusted) activity came in 5.2% above June 2015.
• The number of newly listed homes rose 2.2% from May to June.
• The MLS^® Home Price Index (HPI) rose 13.6% year-over-year in June.
• The national average sale price climbed 11.2% in June from one year ago; net of Greater Toronto and Greater Vancouver, it advanced 8.4% year-over-year.

• National home sales dropped 2.8% from April to May.
• Actual (not seasonally adjusted) activity was up 9.6% compared to May 2015.
• The number of newly listed homes fell 3.2% from April to May.
• The MLS^® Home Price Index (HPI) rose 12.5% year-over-year in May.
• The national average sale price climbed 13.2% in May from one year ago; net of Greater Toronto and Greater Vancouver, it advanced 9.1% year-over-year.

In a recent judgement of the Court of Québec, Small Claims division 1, the Court held that a co-owner of a building had not proved that the plant-sprinkling water from his neighbour, three floors up, was responsible for the deterioration of the painted surfaces of his balcony. The syndicate of co-ownership, called in as warranty by the prosecuted co-owner is not responsible either, according to the Court.

The claims of the parties in the Court
The plaintiff and the defendant own condominiums located respectively on the 24th and 27th floors of the building. The plaintiff accuses the defendant of having badly maintained the balcony of his condominium, thereby causing the flow of wastewater. The applicant therefore claims from him $4,300 in compensation for water damage to his balcony.

The value of building permits issued by municipalities edged down 0.3% to $6.9 billion in April. This marked the second consecutive monthly decline and was largely the result of lower construction intentions in Ontario, Quebec and Nova Scotia.

The value of residential permits declined 1.8% to $4.3 billion in April. The decrease in the value of multi-family dwelling permits more than offset the gain posted by single-family homes. Declines were reported in six provinces, led by Ontario, followed by Quebec and Nova Scotia.