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

  • AD Owner/Members Elect 2023 Board of Directors

    AD Owner/Members Elect 2023 Board of Directors

    AD has recently announced that its owner/members elected three directors to its Board of Directors. Each year, the AD Board’s Nominating & Governance Committee holds an open nomination and voting period, during which AD members select members to its board of directors. Currently, more than 140 of AD’s 850-plus member companies provide leadership on corporate and divisional boards and committees. AD’s newly elected director is François Deschênes, President & CEO of Deschênes Group Inc. Chrissy Nardini, President, American Metals Supply, and Donald D. Slominski, Jr., Executive Chairman of the Board, McNaughton-McKay Electric Company, were reelected by AD’s owner/members. Read More…

  • R. STAHL Joins ETIM North America

    R. STAHL Joins ETIM North America

    ETIM North America recently announced that R. STAHL, a major supplier in the field of explosion protected products and systems, has joined the North American chapter of the global product classification standards organization. R. STAHL, a global electrical manufacturer, provides the industrial customers of electrical distributors a wide array of products including terminal boxes, control boxes, control systems and distribution boards, industrial lighting, intrinsically safe barriers, remote I/O, grounding, industrial cameras and PCs, signaling devices and more. Read More…


Peers & Profiles

  • Schneider Electric, a leader in the digital transformation of energy management and automation, is Canada’s top international corporate citizen in 2022. This designation was awarded to Schneider Electric by Corporate Knights, a media and research company committed to advancing a sustainable economy. Read More…

  • The Sonepar Ontario Region is proud to announce the relocation of their SESCO Central Distribution Centre (CDC) to its new location in Brampton, ON. This move has facilitated an amalgamation between Texcan’s large Brampton branch and SESCO’s CDC, as both businesses work together within one facility for the first time. Read More…