The total value of building permits in Canada advanced 8.6 per cent to $10.7 billion in February, indicating robust intentions for both the residential (+7.9 per cent to $6.6 billion) and non-residential (+9.8 per cent to $4.2 billion) sectors, according to a report released Tuesday by Statistics Canada.
The federal agency said seven provinces reported monthly increases, with notable gains in Ontario (+10.7 per cent) and Alberta (+25.6 per cent).
Building permits, February 2023
“The multi-dwelling component sharply increased by 13.6 per cent, led by a variety of large value permits in Ontario (+25.4 per cent). Meanwhile, construction intentions in single-family homes remained stable (+0.5 per cent),” said StatsCan.
“Overall, residential permits gained 7.9 per cent 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 per cent month over month. Conversely, British Columbia (-13.4 per cent), Alberta (-3.9 per cent) and Saskatchewan (-40.6 per cent) reported monthly declines in residential permits.”
(Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He worked for 35 years at the Calgary Herald, covering sports, crime, politics, health, faith, city and breaking news, and business. He works as well as a freelance writer for several national publications and as a consultant in communications and media relations/training. Mario was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list)
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