FX.co ★ Canada Building Permits Slide Sharply in April

The total value of building permits in Canada experienced a 6.6% decrease month-over-month, amounting to C$11.7 billion in April 2025, following a revised decline of 5.3% in March. This figure fell significantly short of market expectations, which anticipated a 2.2% increase. Residential permit intentions saw an 11.6% reduction, equivalent to $967.7 million, totaling $7.4 billion. This decline was primarily attributed to a substantial decrease in multi-family permits, down by $882.5 million, largely influenced by the situation in British Columbia, particularly within the Vancouver CMA, where permits dropped by $1.0 billion. Single-family permits also experienced a downturn of $85.2 million, driven by a decrease in Alberta ($37.4 million), albeit partially balanced by an increase in Quebec ($26.6 million). Conversely, non-residential permits rose by 3.3%, amounting to $138.2 million, reaching a total of $4.3 billion. This increase was driven by industrial ($186.8 million) and commercial sectors ($68.6 million), offsetting a decline in institutional permits by $117.2 million. Ontario recorded the most significant monthly increase with $352.7 million, while British Columbia saw a decline of $341.0 million. On a year-over-year basis, the total permits dropped by 16.4%, reflecting a comparison with the strong April 2024 figures.