The total value of building permits in Canada increased by 22.1% month-over-month to $12.4 billion in July. This increase followed two consecutive months of declines. Both the residential and non-residential sectors saw growth in July. In constant dollars (2017=100), the total value of building permits increased by 22.9% from the previous month. They also increased by 3.4% year-over-year.
Multi-unit building intentions drive growth in the residential sector: In July, the monthly value of residential permits increased by 16.7% to $7.6 billion. The increase was primarily driven by the multi-unit component (+29.3%; +$1.1 billion), while single-family building intentions saw a slight decline (-1.9%; -$50.3 million).
The value of permits issued in the multi-unit component increased by 29.3% to $5.0 billion. This is the second highest monthly level after the record $5.9 billion in April. British Columbia (+152.1%; +$766.8 million) led the increase, with notable contributions from the City of Richmond. Alberta (+33.1%; +$141.0 million) and Ontario (+7.7%; +$122.6 million) also registered notable increases in this sector. In July, 20,700 new multifamily housing units and 4,100 new single-family housing units were approved. From August 2023 to July 2024, 266,200 new housing units were approved in Canada. Building Permits: The interactive dashboard can be used to visualize monthly data or analyze trends in the value of permits issued by Canadian municipalities as well as monthly changes in housing units created
Canada’s Core Public Infrastructure Survey: The interactive dashboard provides access to data from the Canada’s Core Public Infrastructure Survey (CCPI) by province, territory and asset type.
Ontario and British Columbia lead gains in non-residential building intentions
In July, the total value of building permits in the non-residential sector increased by 31.8%, to $4.8 billion. The sector saw notable growth in the commercial (+18.4% to $2.2 billion), industrial (+98.6% to $1.3 billion) and institutional (+14.8% to $1.3 billion) components.
In Ontario, the value of permits in the non-residential sector increased by 23.8%, to $2.2 billion in July. The major gains were in the industrial component (+99.3%; +$338.0 million). Strong gains in Ontario’s industrial component helped values reach a record $678.3 million in July. This increase was supported by construction intentions for a tire plant expansion in the Greater Napanee area and growth across the province.
In British Columbia, non-residential permits surged 99.2% to $869.1 million in July. The biggest gains came in the industrial (+349.2%; +$168.4 million), institutional (+383.0%; +$157.6 million) and commercial (+30.8%; +$106.8 million) components.
Building Permits June 2024: Building Permits June 2024
The total value of building permits in Canada fell 13.9% to $9.9 billion in June. This decline continues a trend that began in May. Declines were recorded in 11 of the 13 provinces and territories, and included both residential and non-residential sectors. On a constant dollar basis (2017=100), the total value of building permits fell 14.3% in June, following a 13.4% decline in May.
Single-family residence permits see modest growth amid overall housing decline: The total value of residential permits fell 11.5% to $6.5 billion in June. Overall, nine of the 13 provinces and territories contributed to the decline in residential permits. A significant decline in multi-unit construction intentions (-19.8%; -$937.1 million) led to a decline in total residential construction in June. Ontario (-2.5.7%; -$551.2M) and Colombia led the way.
Lower industrial and commercial building intentions lead to a slowdown in the non-residential sector.
In June 2024, the total value of non-residential building permits in Canada saw a significant decline, dropping by 18.1% to $3.5 billion. This decrease was largely driven by a steep fall in the industrial sector, where building permits plunged by 42.6%, amounting to a $447.2 million reduction. This came after a 21.3% increase in May. The commercial sector also saw a notable decline, with permits down by 15.6%, representing a $331.1 million decrease. However, the institutional sector experienced a slight increase of 1.0%, adding $11.1 million in value.
Despite the downturn in June, the second quarter of 2024 saw positive trends overall, particularly in the residential sector. The total value of building permits in the second quarter reached $34.6 billion, marking a 2.1% increase from the first quarter. This growth represented the second consecutive quarterly rise and was the fourth-highest quarterly value recorded in the series.
The residential sector played a key role in driving these gains, with building intentions rising by 6.9% to $22.2 billion during the quarter. Ontario was a major contributor to this increase, with its residential permits surging by 20%, adding $1.5 billion. The multi-unit residential component was especially strong, growing by 35% and reaching a record-high value of $14.4 billion, surpassing the previous record of $13.2 billion set in the second quarter of 2023. The largest single permit, valued at nearly $900 million, was issued in Toronto in April.
While Ontario’s growth was impressive, other provinces also recorded notable increases in multi-unit residential permits. Quebec saw a 12.2% rise, adding $288.4 million, while Manitoba’s permits surged by 61.6%, contributing an additional $150.2 million. Prince Edward Island and Saskatchewan experienced dramatic increases, with gains of 441.7% and 107.3%, respectively.
