Investment in Building Construction, April 2022

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June 17, 2022

Investment in building construction increased by 2.7% to $20.9 billion in April. Gains were reported in both the residential (+3.2%) and the non-residential sectors (+1.4%).

On a constant dollar basis (2012=100), investment in building construction grew 3.5% to $13.0 billion.

Residential sector remains strong

Residential construction investment rose for a seventh consecutive month, up 3.2% to $15.7 billion in April. British Columbia (+8.3%) led the way and reached a record high.

Investment in single family homes increased 4.5% to $8.8 billion, with gains in seven provinces. Conversely, Saskatchewan reported the largest decrease in investment (-12.5%), after being up six of the seven previous months.

Multi-unit construction investment advanced 1.5% to $6.9 billion, with British Columbia behind much of the component’s advance.

Non-residential investment increases for ninth straight month

Investment in the non-residential construction sector advanced 1.4% in April, with seven provinces posting increases.

Investment in industrial construction increased 1.7% to $931 million, with Ontario accounting for most of the net growth.

Commercial investment advanced 1.5% to $2.9 billion. Nine provinces reported growth, with a notable retail project in Vancouver contributing significantly to the month.

Institutional investment rose 1.0% to $1.4 billion, its fourth consecutive monthly advance. Growth was led by Quebec, with a federal building in Shawinigan designed for the Canada Revenue Agency and Employment and Social Development Canada.

Source

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