Permit values jump 8.6 per cent in February

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Ontario Construction News staff writer

The total value of building permits in Canada jumped 8.6 per cent to $10.7 billion in February, indicating “robust intentions” for both the residential (+7.9 per cent to $6.6 billion) and non-residential (+9.8 per cent to $4.2 billion) sectors.

Seven provinces reported monthly increases, including Ontario (+10.7 per cent) and Alberta (+25.6 per cent).

The multi-dwelling component sharply increased by 13.6 per cent, led by a variety of large value permits in Ontario (+25.4 per cent).

Meanwhile, construction intentions in single-family homes remained stable (+0.5 per cent).

Overall, residential permits jumped 7.9 per cent to $6.6 billion. Permits were issued for 22,900 new units nationally, 3,600 more than January.

All four eastern provinces saw gains in the value of permits of 25.7 per cent, but British dropped 13.4 per cent, Alberta dropped 13.4 per cent and Saskatchewan reported a 40.6 per cent monthly declines in residential permits.

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. Much of this gain is attributable to several high-value projects in Alberta.

Across the country, gains in the industrial (+42.0 per cent) and commercial (+6.2 per cent) offset losses in the institutional (-7.6 per cent) sector.

For more information on construction, visit the Construction statistics portal.

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