According to Statistics Canada, the total value of building permits issued in March 2025 dropped by $549.4 million (-4.1%), totaling $12.9 billion. This decline was driven by a significant reduction in non-residential permits, which fell $716.3 million (-14.5%) to $4.2 billion. However, the residential sector provided a cushion, rising $166.9 million (+2.0%) to $8.7 billion.

The decline in the non-residential category was led by a steep fall in commercial construction intentions, which dropped $474.1 million (-19.0%) to $2.0 billion. The institutional component also saw a significant drop of $238.5 million (-14.4%), with Saskatchewan showing the largest decrease after a hospital permit in February boosted figures. Ontario offset some of the institutional losses with gains in long-term care and daycare facility projects.

The industrial sector experienced a modest decline of $3.7 million (-0.5%), continuing a downward trend since October 2024. Alberta was the main contributor to this decrease, though six provinces and one territory also recorded losses.

On the positive side, the residential segment grew, thanks largely to a strong performance in multi-family housing, which jumped $322.5 million to $5.9 billion. This gain was fueled by a $397.8 million surge in British Columbia, particularly in the Vancouver CMA, which alone accounted for $652.3 million in permits.

Conversely, single-family construction fell $155.6 million to $2.8 billion, with Ontario and Quebec seeing the most notable declines.

In total, 22,800 multi-family and 4,400 single-family dwellings were authorized in March, a 4.6% increase from February.

Despite the monthly decline, the first quarter of 2025 marked continued growth, with building permits reaching $39.1 billion, up 2.9% from Q4 2024. This was the fifth consecutive quarterly increase.

• Residential permits rose $1.5 billion (+5.9%) to $25.9 billion, driven entirely by multi-family permits, which hit a record high of $17.3 billion, largely due to British Columbia’s booming market.
• Single-family construction edged down slightly by $55.0 million (-0.6%).
• Non-residential permits declined for the second straight quarter, down $354.1 million (-2.6%) to $13.2 billion, led by industrial and institutional sectors. However, the commercial component offered some relief with a $591.1 million gain.

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