Ottawa, ON — In February, the total value of building permits in Canada fell 8.4 per cent ($1.1 billion) to $12.1 billion. Statistics Canada reports that gains in the residential sector helped moderate the losses seen in the non-residential sector.
Residential construction intentions grew $135.6 million to $8.1 billion in February. The increase in the multi-unit component (up $180.3 million to $5.4 billion) was partially offset by a decline in the single-family component (down $44.7 million to $2.7 billion).
Specifically, the rise in the multi-unit component in February was driven by Ontario ($320.6 million) and British Columbia ($217.6 million). Meanwhile, British Columbia (down $52.8 million) and Ontario (down $28.4 million) led the decrease in February.
Non-residential construction intentions fell by 24 per cent ($1.3 billion) to $4 billion in February. This marks the biggest decline since April 2023. Losses were seen across all components in February.
Institutional construction intentions dropped $987.2 million to $929.1 million. Losses were mainly attributed to Ontario (down $827.1 million), Alberta (down $146.5 million) and Quebec (down $88.8 million).
The commercial component fell $160 million to $2 billion, led by Ontario (down $106.6 million), Nova Scotia (down $51.9 million) and Alberta (down $40 million). Additionally, the industrial component dropped $104.7 million to $985.1 million. Losses were led by Quebec (down $186.4 million).