Record growth in construction activity in British Columbia helped increase the total value of building permits issued in April by more than 20% compared to the month prior.

In its latest report, Statistics Canada finds that the value of building permits issued in April totalled $12.8 billion – 20.5% more than in March. At $3.1 billion, British Columbia alone posted a record-high monthly total value of building permits, and led the monthly increases in both residential and non-residential sectors in Canada.

The value of residential building permits increased 21.0% to $8.0 billion in April 2024. The growth in the residential sector was driven by record high levels in the multi-unit component, which increased by 32.6% to $5.4 billion. The value of permits issued in the single-family home component edged up 2.4% to $2.6 billion.

British Columbia (+75.2%; +$796.3 million) led the growth in the multi-unit component, reaching a record high of $1.9 billion in April. Ontario (+31.9%; +$442.9 million) also supported the monthly growth in the component. Overall growth was driven by several significant permits issued for multi-unit projects in Toronto; Surrey, British Columbia; and Coquitlam, British Columbia.

Across the country, municipalities authorized the construction of 4,300 new single-family homes. A further 22,600 new multi-unit dwellings were also approved through building permits – an all-time high. British Columbia's record 7,200 new multi-unit dwellings authorized in April greatly contributed to this movement.

Despite a strong month, the 12-month cumulative total of 267,700 units authorized from May 2023 to April 2024 saw little change, increasing by 200 (+0.1%) units compared to the 267,500 units authorized from May 2022 to April 2023.

Meanwhile, the value of non-residential permits increased 19.6% to $4.8 billion in April 2024, with growth in the commercial (+21.3%; +$470.7 million), institutional (+17.7%; +$191.5 million) and industrial (+17.4%; +$126.0 million) components.

Broad-based growth in British Columbia (+149.9%; +$605.6 million) drove the increase.