Thursday, September 18, 2025

Latest

Value of Canadian Building Permits Hit $10B for the First Time in February

For the first time ever, the total value of building permits in Canada exceeded the $10 billion mark in February, as an increase in the non-residential sector significantly offset the decline in the residential sector.

According to data compiled by Statistics Canada, the total value of building permits rose to $10.2 billion in February, marking an increase of 2.1% from the month prior. The non-residential sector increased by 14.2% to $3.3 billion, as all components posted growth. Despite the significant increase, however, the level remained approximately 13% below the peak recorded in April 2019.

Institutional permits rose by the most since June of last year, with the total for this component increasing by $226 million to $1 billion, as new building permits for long-term care facilities and a hospice were issued. The commercial component increased by 11.4% to $1.7 billion— the highest value for building permits since September 2020. The majority of the increase was the result of high-value permits for renovations and additions on commercial buildings in Ontario and Alberta. The number of permits issued by municipalities totalled $544 million in February, up by 1.9% since the prior month.

In the meantime, residential construction permits tumbled in February, as gains in British Columbia were unable to offset declines in Alberta and Ontario. According to Statistics Canada, construction permits fell by 2.9% to $6.8 billion in February, following a record-high in January. Building permits for single-family homes fell by 1% to $3.5 billion, but still remained high relative to historical levels.

Between January 2018 and December 2020, the value of multi-family building permits surpassed that of single-family homes. However, that trend quickly reversed following the onset of the pandemic, as Canadians that were able to work remotely entered the housing market in search of more spacious homes in rural and suburban areas.


Information for this briefing was found via Statistics Canada. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Why $10K Gold No Longer Sounds Crazy | Dan Wilton – First Mining Gold

The Pure Silver Set Up! | Joaquin Marias – Argenta Silver Corp

Why $30,000 Gold Isn’t Crazy! | Simon Marcotte – Northern Superior

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Property Developer Kaisa Misses Payment as China’s Default Contagion Continues

In yet another testament that China’s real estate sector is crippling under an acute debt...

Sunday, November 7, 2021, 03:51:00 PM

Housing Minister Doesn’t Want Mayors To Be Blamed For The Housing Crisis, So Canadians Blamed Him Instead

Minister of Housing and Diversity & Inclusion Ahmed Hussen penned an op-ed castigating the opposition...

Saturday, July 15, 2023, 11:27:00 AM

Vancouver Housing Sales Surge by 29% in October Despite Economic Slowdown

Despite the resurgence of a COVID-19 wave, it appears that Canada’s housing market still remains...

Tuesday, November 3, 2020, 04:29:00 PM

Justin Trudeau Tightens Mortgage Rules After BoC Warns of Housing Risks

Canada’s federal government has decided to intervene in the country’s red-hot housing market, shortly after...

Friday, May 21, 2021, 05:19:00 PM

Calgary Home Sales Soar by 40% to Highest Level Since 2007

As an increasing number of Canadians enter the residential real estate market amid historically-low interest...

Tuesday, January 5, 2021, 11:01:00 AM