March New Housing Construction Investment Up 9.7% YOY

Economy

May 25, 2018

New housing construction investment totalled $4.6 billion in March, up 9.7% from March 2017. This increase was mainly attributable to higher construction investment in apartment buildings (+$333.2 million).

New housing construction investment totalled $4.6 billion in March, up 9.7% from March 2017. This increase was mainly attributable to higher construction investment in apartment buildings (+$333.2 million).The increase in apartment building construction investment accounted for 81.7% of the total growth in new housing construction investment in Canada. In comparison, single-home construction accounted for 77.0% of the total increase in investment in March 2017. 

Investment in new housing construction grew year over year in March for every building type except single-family houses, which fell by $23.5 million (-1.1%). This drop was mostly explained by lower spending on single-family house construction in Ontario (-$92.7 million). 

Quebec continued to post the largest increase for apartment building construction (+$155.9 million) for a total investment of $475.7 million, which represented two-thirds of the total investment in new housing construction in the province.In contrast, investment in Alberta was led by an increase in single house construction of $40.0 million, which accounted for over three-quarters (77.9%) of the total increase in new housing construction investment in the province.

At the same time, investment in apartment building construction in Alberta was down by $10.6 million compared with March 2017. 

In Saskatchewan, a $12.6 million decrease was primarily due to lower investment in single-family house construction (-$13.4 million).

British Columbia and Prince Edward Island were the only two provinces to post increases for all building types.

Source: Statistics Canada, www.statcan.gc.ca/daily-quotidien/180522/dq180522b-eng.htm

Related Articles


Changing Scene

  • BC Hydro Making it Easier and More Affordable to Connect New Homes

    BC Hydro Making it Easier and More Affordable to Connect New Homes

    BC Hydro is supporting the construction of new housing developments in growing communities by advancing changes to streamline upgrades and reducing the cost of new customer connections to BC Hydro’s electricity grid. “As communities across B.C. grow, so does the need for essential housing. We are committed to ensuring we’re ready to meet this growing… Read More…

  • OmniCable Appoints Wade Buick as Senior Vice President– Distribution and Operations

    OmniCable Appoints Wade Buick as Senior Vice President– Distribution and Operations

    Omni Cable LLC has recently announced the appointment of Wade Buick as Senior Vice President – Distribution and Operations. Wade brings more than 20 years of executive leadership experience in supply chain, operations, and people development. Most recently, he served as the Vice President of Operations and Strategy at Eastern Engineered Wood Products, Inc. He… Read More…


Peers & Profiles