The total value of building permits issued by municipalities across the country rose by 8.6% to $10.7 billion in February.

Both the residential (+7.9% to $6.6 billion) and non-residential (+9.8% to $4.2 billion) sectors reported robust gains. Seven provinces reported monthly increases, with gains greatest in Ontario (+10.7%) and Alberta (+25.6%).

The residential sector, which had contracted in two consecutive months, rebounded in February on the strength of a strong performance in the multi-dwelling component. Permit values there rose by 13.6%, led by a variety of large value permits in Ontario (+25.4%). Meanwhile, construction intentions in single-family homes remained stable (+0.5%).

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 residential permits, collectively advancing 25.7% compared with January. British Columbia (-13.4%), Alberta (-3.9%) and Saskatchewan (-40.6%) reported monthly declines in residential permits.

Meanwhile, the total monthly value of non-residential permits increased 9.8% to $4.2 billion. That was the highest non-residential value since February 2022. Much of the gain was attributable to several high-value projects in Alberta.

Across the country, gains in the industrial (+42.0%) and commercial (+6.2%) components more than offset losses in the institutional (-7.6%) component.