Building permit values rose by nearly 3% to reach $13.1 billion in February. The increase was driven by notable gains in the non-residential sector in British Columbia.

The national value of non-residential building permits increased by $618.7 million (+15.3%) to $4.7 billion in February, rebounding after four consecutive months of declines.

British Columbia's non-residential sector (+$657.7 million) led the growth, supported by gains in the commercial (+$390.0 million) and institutional (+$248.8 million) components.

Major projects in the Vancouver census metropolitan area (CMA) significantly contributed to gains for the province's commercial and institutional components.

The growth in Canada's non-residential sector was spread across its three components in February, with gains in the commercial (+$481.8 million), industrial (+$86.2 million) and institutional (+$50.7 million) subsectors.

The industrial component ticked up in February 2025, after trending downward since September 2024. In the summer of 2024, the industrial component drove the non-residential sector to a quarterly series high in the third quarter of the year.

Meanwhile, residential construction permit values declined by $247.4 million (-2.9%) to $8.4 billion in February 2025. Overall, the multi-family component fell by $224.8 million, while the single-family component decreased by $22.6 million.

British Columbia's multi-family component (-$185.5 million) led the decline, with decreases concentrated in the Vancouver CMA. Quebec (-$131.5 million) and New Brunswick (-$105.4 million) contributed to the residential sector decrease in February, after helping to offset losses in the national residential sector the previous month.

Quebec's residential sector decline was driven by the multi-family component (-$107.9 million) and supported by the single-family component (-$23.6 million). New Brunswick's residential sector decrease was led by the multi-family component (-$103.3 million). The decrease in the national residential sector was mitigated by Ontario (+$110.2 million).

Across Canada, municipalities approved 21,000 multi-family dwellings and 4,800 single-for construction in February. That figure was down 7.1% from January.