Statistics Canada says that municipalities issued building permits worth $7.4 billion in February, a rise of 15.5 per cent from January.

Residential permits were up 5 per cent to $4.2 billion with single-family dwellings up 9.6 per cent to $2.4 billion. Non-residential permits were up by a third to $3.2 billion.

Alberta led the gains with commercial sector permits. For residential it was Ontario that saw the largest gains, for single-family homes.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

More market watch: