Canadian New Housing Construction Investment Up 8.9% in September - Modern Distribution Management

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Canadian New Housing Construction Investment Up 8.9% in September

Spending on single-family homes led the increase.

Canadian investment in new housing construction totaled C$5.5 billion (US$4.3 billion) in September, an increase of 8.9 percent compared to September 2016, according to Statistics Canada.

Increases in new housing investment were reported in eight provinces, with the largest gains in Alberta (+C$154.3 million, US$120.9 million), Ontario (+C$126.5 million, US$99.1 million) and Quebec (+C$102.4 million, US$80.2 million). At the national level, Ontario (C$2.2 billion, US$1.7 billion), accounted for 40.7 percent of total investment, followed by British Columbia (20.7 percent), Alberta and Quebec (both at 15.1 percent). Quebec and New Brunswick were the only provinces that posted a year-over-year investment increase for all building types.

Investment in new housing construction was driven mainly by a C$268.6 million (US$210.5 million) increase in spending on single-family homes compared with September 2016. Investment in this component rose in eight provinces, led by Alberta (+C$132.4 million, US$103.8 million).

Apartment building investment rose C$38 million (US$29.8 million) (+2.1 percent) compared with September 2016. Spending on apartment buildings was up in six provinces, led by Quebec (+C$74.9 million, US$58.7 million). On the other hand, Ontario (-C$31.7 million, US$24.8 million) declined on a year-over-year basis for a seventh consecutive month.

Investment in row unit construction rose 21.4 percent compared with September 2016, to C$587.7 million (US$460.5 million). Seven provinces reported increased investment in this category, led by Ontario (+C$82.8 million, US$64.9 million). The C$103.6 million (US$81.2 million) increase in row units accounted for nearly one-quarter of the total gain in new housing construction spending, despite only representing about 10 percent of total investment for all types of building.

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