Eastern Canada saw a greater increase in its total value of building permits.Ottawa, ON — Both non-residential and residential sectors reported gains in the total value of building permits in Canada, resulting in a total increase of 8.6 per cent to $10.7 billion in February. Seven provinces reported a monthly increase, with notable gains in Ontario and Alberta.
The residential sector broke a two-month dip, which was advanced largely by multi-dwelling permits. A variety of large value permits in Ontario was a leading reason behind the increase of 13.6 per cent in this component, according to Statistics Canada.
Meanwhile, construction intentions in single-family homes remained stable at a 0.5 per cent increase. Overall, residential permits gained a 7.9 per cent increase up to $6.6 billion, with 22,900 permits issued nationally for new units. That is 3,600 more intentions reported than in January.
All four eastern provinces reported gains — collectively advancing 25.7 per cent month-over-month. Conversely, intentions were not as positive out west for residential permits, with British Columbia down 13.4 per cent, Alberta down 3.9 per cent, and Saskatchewan down 40,6 per cent.
The increase in non-residential intentions in Alberta more than offset the declines in its residential component. This was largely due to several high-value projects. The total monthly value of non-residential permits increased 9.8 per cent to $4.2 billion, the highest non-residential value since February 2022. Across the country, gains in the industrial (up by 42 per cent), and commercial (up by 6.2 per cent) components more than offset losses in the institutional component (down by 7.6 per cent).