The 2020 Mid-Year Economic Update_long

Canadian New Housing Construction Investment Up 3.1% in June

Apartment and apartment-condominium buildings led increase, rising 12.8 percent.

Canadian investment in new housing construction increased 3.1 percent to C$4.1 billion (US$3.1 billion) in June compared with the same month in 2014, according to Statistics Canada.

The increase was mainly due to higher investment in apartment and apartment-condominium building construction, which advanced 12.8 percent to C$1.3 billion (US$1 billion). Spending in row house construction also contributed to the gain in June, rising 4.2 percent to C$385 million (US$294.2 million).

In contrast, spending in semi-detached dwelling construction decreased 9.4 percent to C$223 million (US$170.4 million). Investment in single-family dwellings edged down 0.9 percent to C$2.1 billion (US$1.6 billion).

At the provincial level, Ontario, British Columbia, Alberta and Nova Scotia recorded year-over-year increases.

In Ontario, construction spending increased 10.1 percent to C$1.4 billion (US$1.1 billion) in June. In British Columbia, investment in new residential construction was rose 17 percent to C$715 million (US$546.3 million). In Alberta, investment grew at a slower pace, up 2 percent to C$916 million (US$700 million). In Nova Scotia, spending advanced 34.7 percent to C$54 million (US$41.3 million).

In contrast, Quebec, Saskatchewan and Manitoba recorded the largest declines among the remaining provinces.

In Quebec, investment in new housing construction fell 8.6 percent to C$656 million (US$501.3 million) in June. In Saskatchewan, construction spending decreased 26.3 percent to C$116 million (US$88.6 million). In Manitoba, spending on new residential construction declined 20.1 percent to C$99 million (US$75.7 million).

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