Year over year, the total value of building permits issued in Canada increased by $10.5 billion (7.8 percent) to $145.3 billion in 2024, reaching its highest level since the start of the series in 2017. Using 2017 dollars, the total value of building permits increased 3.7 percent in 2024, bringing it to the second-lowest annual level since 2017. The constant dollar growth reflects a declining trend in the real value of single-family building permits, which tempered the upward trend in real value of multi-family and non-residential permits.<\/p>\n
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The residential sector increased by $3.1 billion (6.3 percent) to $52.5 billion in 2024, marking the second-lowest level in the series, following the record low of $49.3 billion in 2023. The relatively low level seen in 2024 is due to single-family construction intentions falling 30.9 percent ($8.3 billion) from an average total value of $27 billion from 2017 to 2022 to an average of $18.6 billion from 2023 to 2024.<\/p>\n
Conversely, the multi-family component increased by $3.7 billion (12.2percent) to $34.1 billion in 2024, the second-highest level in the series.<\/p>\n
Meanwhile, the number of units authorized for construction increased by 24,100 to 287,100 in 2024, the second-highest level in the series, driven by the growth of multi-family units (22,900).<\/p>\n
The total value of non-residential building permits issued experienced a fourth consecutive annual increase, rising by $59.5 million (0.2 percent) to $36.6 billion in 2024, with Ontario ($1.6 billion) leading the growth.<\/p>\n
Commercial construction intentions (up $190.7 million) partially rebounded in 2024 after decreasing in 2023 to the second-lowest value on record. The industrial component (up $182.4 million) grew to a series high in 2024, after steadily regaining momentum following the sharp decline in 2020. In 2024, institutional permit values (down $313.6 million) declined but remained strong, sitting at the second-highest level in the series.<\/p>\n
In 2024, as in 2023, gains in industrial construction intentions were driven by manufacturing, processing and assembly plants. Specifically, there was growth in permits to develop the battery plant supply chain in 2024, with notable projects being in St. Thomas, Ont.; Windsor, Ont., and B\u00e9cancour, Que. Developing vehicle battery manufacturing has been supported by the federal<\/a> and provincial (Ontario<\/a> and Quebec<\/a>) governments\u2019 goals to build Canada\u2019s electric vehicle supply chain.<\/p>\n \t\t\t\t<\/div>\n