British Columbia leads the country in building permit values – April 2024 – Electrical Business

June 12, 2024 – Month over month, the total value of building permits in Canada increased significantly—20.5% to $12.8 billion—in April 2024, reports Statistics Canada.

British Columbia posted a record-high monthly total value of building permits ($3.1 billion), leading the monthly increases in both residential and non-residential sectors in Canada.

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 in the non-residential sector in Canada.

The value of residential building permits increased 21.0% to $8.0 billion in April 2024.

The growth in this sector was driven by record-high levels in the multi-unit component, increasing 32.6% to $5.4 billion, while 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, surpassing the previous peak of $1.5 billion in June 2023.

Ontario (+31.9%, +$442.9 million) also supported the monthly growth in this component.

Overall growth was driven by several significant permits issued for multi-unit construction projects in the cities of Toronto, Surrey, B.C., and Coquitlam, B.C.

Across Canada, 4300 new single-family homes were authorized in April. Meantime, 22,600 new multi-unit dwellings were also approved through building permits—an all-time high.

British Columbia’s record 7200 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.



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