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Canadian residential construction investment totaled C$30.2 billion (US$26.6 billion) in the third quarter, up 5.9 percent from the same quarter in 2013. Renovation spending was behind most of the increase at the national level, rising 8.9 percent to C$13.9 billion (US$12.2 billion).
Increases in investment in single-family dwellings, 4.8 percent to C$7.4 billion (US$6.5 billion), and row houses, 16.3 percent to C$1.2 billion (US$1.1 billion), also contributed to this growth.
Total residential investment was up in five provinces, led by Ontario, followed by Alberta and Quebec. Ontario's advance, 7.6 percent to C$10.8 billion (US$9.5 billion), resulted mainly from higher renovation spending and investment for single-family dwellings. The increase in Alberta, 9.7 percent to C$4.7 billion (US$4.1 billion), came mostly from higher investment in singles, apartments, row houses and semi-detached dwellings. Quebec's gain, 6.5 percent to C$6.7 billion (US$5.9 billion), was a result of higher renovation spending.