The 2020 Mid-Year Economic Update_long

Canadian New Housing Construction Investment Up 4.1% in May

Single-family dwellings led the increase, accounting for 44.6 percent of the national gain.

Canadian investment in new housing construction increased 4.1 percent to C$4.4 billion (US$3.5 billion) in May compared with the same month in 2016, according to Statistics Canada.

Nationally, construction spending increased for all types of dwellings. Investment in single-family dwellings increased C$77.6 million (US$61.9 million) and accounted for 44.6 percent of the national gain.

Higher investment in Ontario lead national gains, increasing 7.1 percent to C$1.8 billion (US$1.4 billion). This was largely attributable to higher spending on single-family dwellings, which increased to C$81.5 million (US$65 million). Apartment construction spending in the province fell by C$14.4 million (US$11.5 million).

British Columbia also saw gains, increasing by 7.3 percent to C$995 million (US$793.1 million). This was attributable to higher construction investment in apartments, which rose to C$69.2 million (US$55.2 million), and row houses which rose to C$7.1 million (US$5.7 million). Higher investment in apartment buildings was mostly attributable to spending in British Columbia.

Manitoba increased 36.9 percent to C$144.6 million (US$115.3 million) led by higher investment in single-family dwellings. Manitoba was the lone province to post increases for all types of dwellings.

Four provinces posted a decline with the largest decreases for apartment buildings seen in Alberta and Ontario.

An 11.2 percent drop in Quebec was due primarily to a strike in the construction industry in the last week of the month. All types of housing construction declined in this province except row housing, which saw a slight increase.

 

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