The total value of building permits reached a record high, up 21 per cent to $12.4 billion.Ottawa, ON — The total value of building permits reached a record high, up 21 per cent to $12.4 billion in February. British Columbia was a major driving force, up 130.2 per cent, according to Statistics Canada.
Residential sector
With nine provinces reporting gains in February, the overall construction intentions for the residential sector rose 9.8 per cent to $7.5 billion.
Gains in multi-family permit values in British Columbia (up 57.9 per cent) reversed January’s decline and contributed to the 18.5 per cent increase at the national level, along with the gains in seven other provinces.
The total value of single-family home permits rose 1.5 per cent in February, with seven provinces reporting increases.
Non-residential sector
The total value of non-residential building permits rose 43.2 per cent to $4.9 billion in February. Large hospital permits in British Columbia and Quebec, worth a combined $1.9 billion, were a major contributor to the increase.
Construction intentions in the institutional component increased 216.4 per cent for the month.
The value of commercial permits rose 5.6 per cent nationally in February, with six provinces reporting increases.
The total value of industrial building intentions fell 27.9 per cent, primarily due to declines in Quebec (minus 44.8 per cent) and Ontario (minus 28.8 per cent).