According to Statistics Canada, the total value of building permits in Canada advanced 8.6 percent to $10.7 billion in February, indicating robust intentions for both the residential (+7.9 percent to $6.6 billion) and non-residential (+9.8 percent to $4.2 billion) sectors.
Seven provinces reported monthly increases, with notable gains in Ontario (+10.7 percent) and Alberta (+25.6 percent).
The multi-dwelling component sharply increased by 13.6 percent, led by a variety of large value permits in Ontario (+25.4 percent). Meanwhile, construction intentions in single-family homes remained stable (+0.5 percent).
Overall, residential permits gained 7.9 percent to $6.6 billion. Permits were issued for 22,900 new units nationally, 3,600 more than the intentions reported in January.
All four eastern provinces saw gains in the value of permits, collectively advancing 25.7 percent month over month. Conversely, British Columbia (-13.4 percent), Alberta (-3.9 percent) and Saskatchewan (-40.6 percent) reported monthly declines in residential permits.
The total monthly value of non-residential permits increased 9.8 percent 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 percent) and commercial (+6.2 percent) components more than offset losses in the institutional (-7.6 percent) component.