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April 10, 2025BUILDING PERMITS, FEBRUARY 2025 Monthly (seasonally adjusted, February 2025 vs January 2025)
Changes in monthly building permit values are typically very volatile, with large swings from one month to the next.
Nova Scotia's total building permits (residential and non-residential) fell 4.5 % to $320.7 million. Halifax permits rose 4.7% to $206.5 million while permits outside the city dropped 17.7% to $114.2 million. National permits grew 2.9% to $13.08 billion. Total building permit values were up in five provinces, led by British Columbia. New Brunswick reported the steepest monthly decline in building permit values.
Nova Scotia's residential building permits fell 4.1% to $202.2 million. Halifax residential permits rose 8.4% to $158.9 million. Outside the city, residential permit values declined 32.6% to $43.3 million. National residential building permit values declined 2.9% to $8.42 billion. Residential permit values were down in five of ten provinces, led by New Brunswick. Manitoba reported the fastest gain in residential permit values.
Nova Scotia's non-residential building permits fell 5.2% to $118.5 million. Halifax permits declined 6.0% to $47.6 million. Outside the city, non-residential permit values decreased 4.7% to $70.9 million. National non-residential building permit values grew 15.3% to $4.67 billion. Non-residential permit values were up in four of ten provinces, led by British Columbia. New Brunswick reported the fastest decline in non-residential permit values.
Year-to-date (January-February 2025 vs January-February 2024)
Nova Scotia's total building permits (residential and non-residential) were down 2.9% in the first two months of the year comparing with the same period in 2024. Halifax permits rose 2.2% and outside the city permit values decreased 10.2%. National permits were up 11.6%. Building permit values were up in every province except Nova Scotia, with New Brunswick and Newfoundland and Labrador reporting the fastest increases.
In the first two months of 2025, Nova Scotia's residential building permits dropped 19.4% compared to the same period in 2024. Halifax residential permits fell 2.8% and outside the city residential permit values fell 45.7%. National residential building permit values increased 21.3%. Residential permit values were up in every province except Nova Scotia, with the fastest increases in Saskatchewan.
Nova Scotia's non-residential building permits rose 48.5% in the first two months of 2025 (compared with the same period in 2024). Halifax permits increased 21.6% while non-residential permits outside the city rose 74.6%. National non-residential building permit values declined 3.4%. Non-residential permit values were up in six provinces, led by Newfoundland and Labrador and New Brunswick. Prince Edward Island reported the largest decline.
Higher non-residential permits were partially offset by lower residential permits in Halifax in the first two months of 2025 (compared with the same period in 2024). Outside of Halifax, higher non-residential permits were offset by declines in residential permits, resulting in lower overall permits.
There was a slight increase in permit values for single dwelling units in Halifax and a decline in the rest of the province, resulting in lower overall permits for singles. Multiple unit permits fell across the province.
Non-residential permit values were up due to notable growth in commercial and institutional/government permits across the province. Industrial permit values were slightly up in Halifax and fell in the rest of the province.
Trends
Overall building permit values have generally been on a rising trend for several years, though there have been periods of declining values over this period. Rising permit values are mostly driven by higher residential permits within Halifax, as well as outside the city, to a smaller degree.
After trending down in late 2022 and early 2023, residential permit values started to rise again in Halifax in the middle of 2023. Halifax residential permits reached a peak mid-2024 and trended down through the second half of the year. In recent months, Halifax residential permits are trending up.
Nova Scotia's non-residential building permit values started to rise in early 2023 before reaching a plateau through the end of the year. Non-residential permit values reached a plateau in Halifax while declining in the rest of Nova Scotia, resulting in a continuation of flat trend for most of 2024. Non-residential permits have trended up in recent months due to notable growth outside the city.
Trends in residential permit values reflect the differences in housing markets for Halifax and the rest of the province. In Halifax, growth in permit values for multi-unit dwellings has outpaced growth in single-dwelling unit permits. Outside the city the situation is reversed, where single dwelling unit permits are more common than permits for multi-unit structures. Residential permits trended down in the second half of 2024 due to the decline among multiples in Halifax and lower permits for single unit dwellings. In recent months, residential permits are trending up due to the increase among multiples in Halifax.
Non-residential building permits have lower values than residential permits. In Halifax, non-residential permits reached a peak and have been trending down for several months. Commercial projects and institutional/governmental projects have been declining in recent months. After rising in early 2023, Halifax values for industrial building permits subsequently declined and remained flat in the second half of 2024. Outside the city, permits have exhibited a rise in recent months due to growth in commercial and institutional and government permits.
Source: Statistics Canada. Table 34-10-0285-01 Building permits, by type of structure and type of work (x 1,000)
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