Ontario drives growth in residential building permits: StatsCan

Month over month, the total value of building permits in Canada increased 9.3% to $11.8 billion in February. The non-residential sector grew 12.3% to $4.7 billion due to the issuance of several major construction permits, while the residential sector increased 7.4% to $7.1 billion. Ontario (+21.7% to $5.0 billion) led the growth, with gains occurring across all components.

On a constant dollar basis (2017=100), the total value of building permits was up 8.5% in February, following a monthly increase in January.

Ontario drives growth in residential construction intentions

The total monthly value of residential permits increased 7.4% to $7.1 billion in February. Ontario (+14.2% to $2.8 billion) contributed the most to the rise in value of both single-family and multi-family dwelling permits.

Intentions for residential construction growth were divided between single-dwelling (+9.6%; +$248.2 million) and multi-dwelling (+6.0%; +$239.3 million) permits in February.

In addition to Ontario, British Columbia (+5.9%; +$76.4 million), Quebec (+3.9%; +$44.2 million) and Alberta (+3.9%; +$41.7 million) were the primary contributors to the second consecutive monthly increase in the residential sector.

Across Canada, 16,400 new dwellings in multi-unit buildings and 4,600 new single-family dwellings were authorized in February. From March 2023 to February 2024, a total of 253,400 new units were authorized.