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2026 Q1 Building Permit Rankings
HIGHLIGHTS
- By the end of the first quarter of 2026, Vaughan ranked third nationally in the value of industrial building permits and fourth in the number of those permits.
- Vaughan remains the most significant industrial market in York Region, with over 105.7 million square feet of industrial inventory in the first quarter of 2026.
- Vaughan’s industrial permit value totaled more than $61 million at the end of the first quarter, with all non-residential permits totaling more than $152.6 million.
- Vaughan is a leader in Ontario of non-residential development, ranking sixth in the province by both value and number of non-residential permits.
- When looking specifically at commercial development, Vaughan ranks seventh in Ontario by both the number and value of commercial building permits.
- In Ontario, Vaughan ranks in the top ten by number of institutional building permits.
- The average asking industrial net rent per square foot in the Greater Toronto Area dropped to $16.30 in the first quarter of 2026.
- The Greater Toronto Area industrial market has over 10 million square feet currently under construction, with nearly 70 per cent taking place in the western municipalities: Mississauga, Brampton, Halton Hills, and Caledon.
- Non-residential building construction costs rose 0.2 per cent in the first quarter of 2026, following a 0.5 per cent increase in the previous quarter.
ANALYSIS
The data received from Statistics Canada ranks the number and value of building permits for the quarter. As economic indicators, the number and value of building permits measure current demand in both residential and non-residential real estate markets and estimate the future performance of the construction industry. Building permit values are a key indicator of the local economy’s strength and a predictor of population and employment growth.
By the end of the first quarter of 2026, Vaughan ranked third nationally in the value of industrial building permits and fourth in the number of those permits.
Vaughan’s industrial sector continues its momentum from 2025, and the performance of the industrial development market at the end of the first quarter reflects the city’s position as a top market in Canada. At the end of the first quarter of 2026, Vaughan ranked third nationally in the value of industrial building permits and fourth in the number of those permits.
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Top Ten Canadian Industrial Markets by Value of Permits, Q1 2026[1]
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1. Toronto |
6. Hamilton |
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2. Edmonton |
7. Mississauga |
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3. Vaughan |
8. Langley |
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4. Montréal |
9. Brampton |
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5. Calgary |
10. Québec City |
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Top Ten Canadian Industrial Markets by Number of Permits, Q1 2026[2]
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1. Mississauga |
6. Winnipeg |
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2. Toronto |
7. Montréal |
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3. Brampton |
8. London |
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4. Vaughan |
9. Langley |
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5. Calgary |
10. Markham |
Vaughan remains the most significant industrial market in York Region, with over 105.7 million square feet of industrial inventory in the first quarter of 2026.
Vaughan continues to be the most significant industrial market in the York Region, with a growing industrial inventory exceeding 105.7 million square feet; the city accounted for nearly 61 per cent of York Region’s total industrial inventory at the end of the first quarter[3]. Vaughan’s industrial vacancy rate for the first quarter of 2026 was 2.4 per cent
Vaughan’s industrial permit value totaled more than $61 million at the end of the first quarter, with all non-residential permits totaling more than $152.6 million.
In the first quarter of 2026, Vaughan’s non-residential permits totaled more than $152.6 million in permit value, with over $61 million coming from industrial development[4]. Non-residential permits include those for industrial, commercial, and institutional permits.
Vaughan is a leader in Ontario of non-residential development, ranking sixth in the province by both value and number of non-residential permits.
In the first quarter of 2026, Vaughan ranked sixth in both the value and number of non-residential building permits in Ontario. Vaughan continues to maintain its position as a leader in non-residential development among Ontario municipalities.
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Top Ten Ontario Non-Residential Markets by Value of Permits, Q1 2026[5]
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1. Toronto |
6. Vaughan |
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2. Ottawa |
7. Barrie |
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3. Mississauga |
8. Milton |
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4. Brampton |
9. London |
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5. Hamilton |
10. Richmond Hill |
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Top Ten Ontario Non-Residential Markets by Number of Permits, Q1 2026[6]
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1. Toronto |
6. Vaughan |
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2. Mississauga |
7. Hamilton |
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3. Brampton |
8. Markham |
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4. Ottawa |
9. Kitchener |
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5. London |
10. Pickering |
When looking specifically at commercial development, Vaughan ranks seventh in Ontario by both the number and value of commercial building permits.
In the first quarter of 2026, Vaughan ranked seventh in Ontario by both the number and value of commercial permits issued. Vaughan’s commercial permit value for the year up to the end of March 2026 was over $86.2 million[7].
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Top Ten Ontario Commercial Markets by Number of Permits, Q1 2026[8]
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1. Toronto |
6. Hamilton |
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2. Mississauga |
7. Vaughan |
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3. Ottawa |
8. London |
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4. Brampton |
9. Kitchener |
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5. Markham |
10. Pickering |
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Top Ten Ontario Commercial Markets by Value of Permits, Q1 2026[9]
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1. Toronto |
6. London |
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2. Ottawa |
7. Vaughan |
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3. Mississauga |
8. Markham |
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4. Hamilton |
9. Richmond Hill |
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5. Brampton |
10. Oakville |
In Ontario, Vaughan ranks in the top ten by number of institutional building permits.
In the first quarter of 2026, Vaughan ranked sixth in Ontario by the number of institutional building permits issued. Vaughan’s institutional permit value for the year up to the end of March 2026 was just over $2.4 million[10].
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Top Ten Ontario Institutional Markets by Number of Permits, Q1 2026[11] |
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1. Toronto |
6. Vaughan |
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2. Mississauga |
7. Kitchener |
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3. Ottawa |
8. Oakville |
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4. London |
9. Brampton |
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5. Hamilton |
10. Markham |
MARKET TRENDS
The average asking industrial net rent per square foot in the Greater Toronto Area dropped to $16.30 in the first quarter of 2026.
The average asking industrial net rent per square foot in the Greater Toronto Area (which includes Vaughan) dropped to $16.30, from $16.54 in the fourth quarter of 2025. For the tenth consecutive quarter, industrial rental rates in the Greater Toronto Area declined. While the pace of decline slowed slightly, with rental rates falling 1.5 per cent quarter-over-quarter, this still represents a 6.2 per cent decrease year-over-year[12].
The Greater Toronto Area industrial market has over 10 million square feet currently under construction, with nearly 70 per cent taking place in the western municipalities: Mississauga, Brampton, Halton Hills, and Caledon.
The Greater Toronto Area’s industrial market has 10,111,566 square feet currently under construction, with 6,965,386 square feet (or 68.8 per cent) located in the western municipalities, including Brampton, Mississauga, Caledon, and Halton Hills[13].
Non-residential building construction costs rose 0.2 per cent in the first quarter of 2026, following a 0.5 per cent increase in the previous quarter.
Non-residential building construction costs rose 0.2 per cent in the first quarter in the Greater Toronto Area, following a 0.5 per cent increase in the previous quarter. Non-residential building construction costs rose 0.5 per cent nationally in the first quarter, following a 0.5 per cent increase in the previous quarter[14].
[1] Q1 2026 Building Permit Data Report. Statistics Canada.
[2] Q1 2026 Building Permit Data Report. Statistics Canada.
[3] Q1 2026 Toronto Industrial Market Report. Colliers.
[4] Summary of Construction Activity to March 31, 2026. City of Vaughan.
[5] Q1 2026 Building Permit Data Report. Statistics Canada.
[6] Q1 2026 Building Permit Data Report. Statistics Canada.
[7] Summary of Construction Activity to March 31, 2026. City of Vaughan.
[8] Q1 2026 Building Permit Data Report. Statistics Canada.
[9] Q1 2026 Building Permit Data Report. Statistics Canada.
[10] Summary of Construction Activity to March 31, 2026. City of Vaughan.
[11] Q1 2026 Building Permit Data Report. Statistics Canada.
[12] Q1 2026 Toronto Industrial Market Report. Colliers.
[13] Q1 2026 Toronto Industrial Market Report. Colliers.
[14] Building Construction Price Indexes, Q1 2026. Statistics Canada