Investment in Building Construction, February 2022
April 18, 2022
Investment in building construction increased 4.0% in February, reaching $20.0 billion for the first time. Most provinces reported gains, with Quebec accounting for over 50% of the increase.
On a constant dollar basis (2012=100), investment in building construction increased 3.9% to $12.7 billion.
Residential construction continues to show strength
Investment in single family homes rose 4.9% to $8.0 billion in February. Increases were posted in seven provinces, led by Ontario (+5.3%) and Quebec (+8.2%).
Multi-unit construction increased 5.1% to $6.9 billion, driven primarily by strong gains in Quebec (+16.8%). Conversely, Saskatchewan declined for a third straight month as it returned to more historic levels, following higher investment in October and November 2021.
Overall, residential construction investment rose 5.0% to $14.9 billion in February.
Non-residential sector increases for eighth straight month
Non-residential construction investment increased 1.1% to $5.1 billion in February.
Commercial investment was up 1.0% to $2.8 billion, with Alberta leading the way (+3.2%). The only two provinces that posted declines in this component were New Brunswick and Manitoba.
Investment in the institutional component was largely unchanged in February (+0.1%). Similar to the previous month, gains in Quebec (+1.9%) largely offset losses posted in seven other provinces.
Industrial construction investment rose 2.8% to $893 million, with Ontario (+3.3%) and Quebec (+4.5%) accounting for over 90% of the national gain. This was largely due to several new manufacturing and maintenance building projects in both provinces, while other provinces remained at more historic levels.
For more information on housing, visit the Housing statistics portal.