According to Statistics Canada, the total value of building permits in Canada surged by 20.5% in April, reaching an impressive $12.8 billion. This significant increase reflects growing construction intentions in both the residential and non-residential sectors.

In April, the residential sector saw a remarkable 21.0% increase in building permits, amounting to $8.0 billion. This growth was primarily driven by a surge in multi-unit construction projects, which soared by 32.6% to a record $5.4 billion. The single-family home sector also experienced a modest rise, increasing by 2.4% to $2.6 billion.

British Columbia played a pivotal role in this growth, with the province recording a staggering 75.2% increase (+$796.3 million) in the multi-unit component, reaching an all-time high of $1.9 billion. Ontario also contributed significantly, with a 31.9% increase (+$442.9 million) in multi-unit construction permits.

April 2024 marked an all-time high for multi-unit dwelling approvals in Canada, with 22,600 new units authorized. British Columbia led the way with a record 7,200 new multi-unit dwellings, greatly contributing to this unprecedented growth.

Despite this strong monthly performance, the 12-month cumulative total of authorized units showed little change. From May 2023 to April 2024, 267,700 units were authorized, a slight increase of 0.1% compared to the previous 12-month period.

The non-residential sector also saw substantial growth in April, with building permits increasing by 19.6% to $4.8 billion. This growth was observed across all components, including commercial (+21.3%; +$470.7 million), institutional (+17.7%; +$191.5 million), and industrial (+17.4%; +$126.0 million) sectors.

British Columbia again led the charge, with a 149.9% increase (+$605.6 million) in non-residential building permits. This broad-based growth highlights the province’s critical role in driving the overall increase in Canada’s construction activities.

On a constant dollar basis (2017=100), the total monthly value of building permits grew by 20.7% in April, reaching its highest level since June 2023. This increase underscores the robust health of the construction sector in Canada, reflecting a strong demand for both residential and non-residential developments.

April 2024 was a remarkable month for the Canadian construction industry, with record-breaking growth in building permits across both residential and non-residential sectors. British Columbia and Ontario were key contributors to this growth, particularly in the multi-unit residential segment. As the industry continues to expand, these trends highlight the dynamic and evolving landscape of construction in Canada.

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