Q1 Residential Construction Investment Up 2.1%

June 13, 2016

In the first quarter, total investment in residential construction rose 2.1% compared with the same quarter in 2015 to $26.1 billion. This marked the ninth consecutive year-over-year gain. 

The increase came from all components, except acquisition costs related to new dwelling units and semi-detached dwellings. Higher investment in apartment and apartment-condominium building construction (up 21.2% to $4.1 billion) was responsible for much of the advance at the national level.

At the provincial level, increases were recorded in four provinces, with Ontario and British Columbia registering the largest gains.

In Ontario, spending on residential construction grew 11.3% to $10.8 billion in the first quarter, marking the second consecutive double-digit year-over-year advance. Higher investment in single-family dwelling construction, renovation work, and apartment and apartment-condominium building construction accounted for most of the advance.

Total investment in British Columbia increased 10.1% from the first quarter of the previous year to $4.6 billion in the first quarter. This was largely the result of increased spending on apartment and apartment-condominium buildings, acquisition costs related to new dwelling units and single-family dwellings.

The largest year-over-year decline was recorded in Alberta, followed distantly by Manitoba and Nova Scotia.

Compared with the first quarter of the previous year, spending in Alberta dropped 16.1% to $4.0 billion in the first quarter. This was the fourth straight year-over-year decline and was mainly attributable to lower investment in the construction of single-family dwellings and decreased acquisition costs related to new dwelling units.

In Manitoba, residential construction spending totalled $656 million in the first quarter, down 11.8% from the same quarter in 2015. The decline was mostly due to decreased spending on renovation work and single-family dwelling construction.

In Nova Scotia, total investment fell 13.7% to $456 million in the first quarter. The decline occurred mainly as a result of lower spending on renovation work and, to a lesser extent, acquisition costs and single-family houses.

 

 

 

 

 

 

 

 

 

 

Source: Statistics Canada, www.statcan.gc.ca/daily-quotidien/160602/dq160602b-eng.htm.

 

Related Articles


Changing Scene

  • Sonepar Acquires PEPCO

    Sonepar Acquires PEPCO

    September 30, 2022 Sonepar announced that its U.S. subsidiary has entered into an agreement to acquire Professional Electric Products Co., Inc. (dba “PEPCO”). With a strong presence in the state of Ohio, this acquisition offers Sonepar the opportunity to expand in the 6th largest electrical distribution market in the U.S. A family-owned business headquartered in Eastlake, Ohio, since… Read More…

  • Sonepar to Acquire Basin-River Electrical Supply

    Sonepar to Acquire Basin-River Electrical Supply

    September 30, 2022 Sonepar announced Tuesday of this week that its U.S. subsidiary has entered into an agreement to acquire Basin-River Electrical Supply LLC. This acquisition allows Sonepar to grow its business in the Plaquemine, Louisiana, market. A family-owned business since 1981, Basin-River’s branch location will be integrated into Sonepar’s Crawford Electric brand at closing. … 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…