Investment in building construction, November 2021

Investment in Building Construction - November 2021

Jan 14, 2022

Investment in building construction advanced 1.2% to $18.0 billion in November with increases in every component except for industrial construction.

On a constant dollar basis (2012=100), investment in building construction grew 0.5% to $12.3 billion.

Chart 1
Investment in building construction, seasonally adjusted

Multi-unit construction pushes residential investment up

Multi-unit construction investment rose 2.4% to $6.0 billion, with Ontario (+2.5%) and Quebec (+3.3%) behind much of the national gain in November 2021. Alberta and Saskatchewan also showed notable strength.

Investment in single-family homes increased 0.7% to $7.1 billion, led by Ontario (+1.7%).

Overall, residential construction investment rose 1.5% to $13.1 billion in November.

Non-residential investment continues gradual advance

Non-residential construction investment edged up 0.6% in November to $4.9 billion.

Commercial investment posted its fifth consecutive monthly increase (+0.6% to $2.7 billion) driven by gains in Ontario (+1.1%). Prince Edward Island and Alberta were the only provinces to report decreases.

Investment in the institutional component was up 1.4% to $1.4 billion. Quebec (+4.9%) posted the largest gain, largely offsetting the declines reported in seven provinces.
Industrial construction declined 0.7% to $824 million, reflecting decreases in Ontario (-1.6%) and Manitoba (-6.8%). Conversely, Nova Scotia saw strong gains, up 14.8%.

For more information on housing, please visit the Housing Statistics Portal.

Source: https://www150.statcan.gc.ca/n1/daily-quotidien/220113/dq220113a-eng.htm

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