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In October, the total value of building permits issued in Canada rose $1.8 billion (14.9%) to $13.8 billion. The increase in construction intentions was led by the residential sector ($1.1 billion). An increase was also observed in the non-residential sector ($702.8 million). On a constant dollar basis (2023=100), the total value of building permits issued in October grew 14.9% from the previous month and was up 5.9% on a year-over-year basis.
Ontario’s multi-family component leads residential sector increases
In October, residential construction intentions increased $1.1 billion (14.6%) to $8.6 billion. Ontario ($882.6 million) contributed the most to the national growth. The multi-family component grew $1 billion to $5.9 billion in October. The largest increase was recorded in Ontario ($876.4 million), specifically the Toronto area ($408.9 million), followed by Quebec ($81.4 million). Overall, seven provinces and one territory contributed to the increase in this component.
The single-family component was up $47 million to $2.6 billion in October, with the gains being primarily attributed to Alberta ($28.7 million).
Across Canada, a total of 24,300 multi-family dwellings and 4,100 single-family dwellings were authorized in October, marking a 13.6% increase from the previous month. Year-to-date, the average number of multi-family dwellings authorized is 21,500 per month, up from 19,100 during the same period in 2024.