HPAC Magazine

Third Straight Record Month for Building Permits Recorded in Canada

By Logan Caswell   

Construction HPAC General Human Resources HVAC Systems Hydronics Management building permits March residential Statistics Canada

Three consecutive monthly highs led to a record-setting first quarter, up 12.7% to $31.2 billion.

Statistics Canada has announced March 2021 marked the third consecutive month of record-setting numbers as building permits rose 5.7% to $10.9 billion.

Reports show on a dollar basis, building permits increased by 4.0% to $8.1 billion.

Residential Boom

The residential sector saw a massive increase climbing 15.9%, clearing the $8.0 billion mark for the first time in March.

Multi-family homes rocketed up 24.5% compared with February to $4.3 billion. This gain resulted largely from permits being issued for residential towers in the cities of Toronto, Burlington, and Vaughan

Single-family homes also reached new highs, increasing 7.6% to $3.8 billion. The census metropolitan area of Oshawa was responsible for just over one-third of this growth.

Another record-setting quarter

Three consecutive monthly highs led to a record-setting first quarter, up 12.7% to $31.2 billion compared with the fourth quarter of 2020.

On a constant dollar basis, the first quarter of 2021 posted the largest value since the start of the series in 2011 ($23.3 billion), beating out the previous record of $22.3 billion in the second quarter of 2019.

The first three months of 2021 were the highest posted in the residential sector (+15.0%). Single-family homes (+22.8%) showed stronger quarterly growth than multi-family dwellings (+8.3%) and both reached new heights by breaking previous records set in the fourth quarter of 2020.

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