The 2020 Mid-Year Economic Update_long

Canadian New Housing Construction Investment Up 2.2% in November

Apartment and apartment-condominium buildings led the increase, rising 26.6 percent.

Canadian investment in new housing construction increased 2.2 percent to C$4.3 billion (US$3.4 billion) in November compared with the same month in 2014, according to Statistics Canada.

The increase was mainly due to higher construction spending on apartment and apartment-condominium buildings, which rose 26.6 percent year-over-year to C$1.6 billion (US$1.3 billion). Spending in row house construction increased 3.4 percent to C$416 million (US$314.3 million).

In contrast, single-family dwelling construction declined 9.6 percent to C$2.1 billion (US$1.6 billion) in November while spending on semi-detached dwellings dropped 17.9 percent from the same month a year earlier to C$178 million (US$157.8 million) in November.

In November, the value of new housing construction increased in three provinces, led by Ontario and British Columbia. Ontario recorded the largest increase by far, with substantial gains in construction spending. Alberta posted the largest decrease.

Investment in new residential construction in Ontario rose 23.1% year over year to $1.7 billion. Higher investment in apartment and apartment-condominium buildings and in single-family dwellings largely explained the advance.

In British Columbia, construction spending rose 13.9% to $784 million in November compared with the same month in 2014. The gain was largely the result of higher construction spending on apartment and apartment-condominium buildings and, to a lesser extent, single-family dwellings and row houses.

In Alberta, investment in residential construction amounted to $818 million in November, down 15.7% year over year.

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