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.


About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.
Social Media Auto Publish Powered By :