According to Statistics Canada, the total value of building permits in Canada rose 13.5 percent in January to $10.8 billion month over month, rebounding after a decrease of 11.5 percent in December. The residential sector increased 12.6 percent to $6.5 billion in January, while the non-residential sector grew 14.8 percent to $4.2 billion.
The total monthly value of residential permits increased 12.6 percent to $6.5 billion in January, following a weak December.
Gains in the residential sector in January were led by a strong rebound in multi-unit construction intentions (+35.1 percent to $4.0 billion), and Ontario (+29.1 percent to $1.4 billion) led this increase. Specifically, multi-unit permits were concentrated in the census metropolitan areas of Toronto, Kitchener–Cambridge–Waterloo and London. Quebec (+61.6 percent; +$244.7 million) and British Columbia (+36.7 percent; +$281.9 million) also posted notable gains in multi-unit permit values.
The overall residential growth in January was tempered by a decline in the total value of single-family dwelling permits (-10.3 percent to $2.6 billion), with declines occurring in nine provinces.
Across Canada, 15,200 new dwellings in multi-unit buildings and 4,000 new single-family dwellings were authorized in January.
The total monthly value of non-residential permits increased 14.8 percent to $4.2 billion in January, following a 4.0 percent decline in December.
The growth was attributed to the commercial component, which increased 34.5 percent to $2.3 billion, the highest monthly level recorded since April 2023. A $200 million permit for a new data center in Lévis, Quebec, greatly contributed to the growth observed in January 2024.