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In February, the total value of building permits issued in Canada increased by $371.3 million (+2.9%) to $13.1 billion. Gains in construction intentions were led by British Columbia’s non-residential sector. On a constant dollar basis (2017=100), the total value of building permits issued in February grew 3.2% from the previous month and was up 5.6% on a year-over-year basis.
British Columbia’s multi-family component drives the residential sector decline
Canada’s residential construction intentions declined by $247.4 million (-2.9%) to $8.4 billion in February 2025. Overall, the multi-family component fell by $224.8 million, while the single-family component decreased by $22.6 million. British Columbia’s multi-family component (-$185.5 million) led the decline, with decreases concentrated in the Vancouver CMA. Quebec (-$131.5 million) and New Brunswick (-$105.4 million) contributed to the residential sector decrease in February, after helping to offset losses in the national residential sector the previous month. Quebec’s residential sector decline was driven by the multi-family component (-$107.9 million) and supported by the single-family component (-$23.6 million). New Brunswick’s residential sector decrease was led by the multi-family component (-$103.3 million). The decrease in the national residential sector was mitigated by Ontario (+$110.2 million).
Across Canada, 21,000 multi-family dwellings and 4,800 single-family dwellings were authorized in February, down 7.1% from the previous month.