FX.co ★ Canadian Building Permits Rise Most Since June 2024

Building permits in Canada experienced a remarkable increase of 14.9% month-over-month, reaching C$13.8 billion in October 2025. This represents the highest growth rate since June 2024 and marks a significant acceleration from the 4.5% rise observed in September. The surge notably surpassed market expectations, which had anticipated a decline of 1.4%. The residential sector played a pivotal role in this growth, contributing an additional C$1.1 billion to reach C$8.6 billion. Ontario was at the forefront of these gains, driven by a C$1.0 billion increase in multi-family permits, totaling C$5.9 billion, particularly concentrated in the Toronto CMA and Quebec. Meanwhile, single-family permits saw an increment of C$47 million, totaling C$2.6 billion, with Alberta leading the way. In the non-residential construction segment, there was an addition of C$702.8 million, bringing the total to C$5.3 billion. This growth was predominantly fueled by commercial projects, which increased by C$394.9 million, and institutional projects, rising by C$311.8 million, especially in Ontario and British Columbia. In contrast, industrial permits saw a slight decline.