Building permits hit highest level since 2017

Canada’s construction sector ended 2024 on a high note, with the total value of building permits surging 11% in December to $13.1 billion, according to the latest data from Statistics Canada.

The increase was driven by a 21.2% jump in residential permits, led by gains in Ontario and British Columbia.

The residential sector saw multi-unit permits climb by $1.5 billion (+33.3%) to $6.1 billion. Meanwhile, single-family permits edged up 1.8% (+$52.1 million) to $2.9 billion.

Annual building permits hit seven-year high

Over the full year, the total value of building permits in Canada rose 7.8% to $145.3 billion, making 2024 the highest annual total since 2017.

In total, permits were issued for 287,100 new housing units, the second-highest level on record. Multi-unit housing accounted for the majority of this growth, with $34.1 billion in multi-unit permits (+12.2%), while single-family permits declined 30.9% to $18.6 billion.

On the non-residential side, the total value of permits increased for the fourth consecutive year, rising $59.5 million (+0.2%) to $36.6 billion. Ontario saw the strongest growth, contributing $1.6 billion in non-residential permit gains.

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Last modified: February 11, 2025

Steve Huebl

Steve Huebl is a graduate of Ryerson University's School of Journalism and has been with Canadian Mortgage Trends and reporting on the mortgage industry since 2009. His past work experience includes The Toronto Star, The Calgary Herald, the Sarnia Observer and Canadian Economic Press. Born and raised in Toronto, he now calls Montreal home.