Canadian investment in new housing construction increased 9.7 percent to C$3.8 billion (US$2.9 billion) in March compared with the same month in 2015, according to Statistics Canada.
Nationally, the gain was the result of higher spending on apartment and apartment-condominium buildings, which rose 19.9 percent to C$1.4 billion (US$1.2 billion), and single-family dwellings, which increased 5.9 percent to C$1.9 billion (US$1.4 billion). Investment in row houses also registered an increase, rising 9.2 percent to C$384 million (US$292.7 million).
In contrast, spending on semi-detached dwellings decreased year over year for the 11th consecutive month, down 15.1 percent to C$164 million (US$125 million) in March.
At the provincial level, the largest increases in new housing investment were recorded in Ontario, British Columbia and Quebec. Nova Scotia also posted an increase in construction spending.
In Ontario, spending increased 35.5 percent year over year to C$1.5 billion (US$1.1 billion) in March. Investment rose in all dwelling types except semi-detached buildings, which declined year over year for the 13th consecutive month.
Investment in new housing construction rose 28 percent in British Columbia to C$822 million (US$626.5 million). The increase was largely attributable to spending on apartment and apartment-condominium buildings. Higher investment in single-family dwellings and row houses was also observed.
In Quebec, spending totaled C$412.3 million (US$125 million), up 12.5 percent year over year. Increases in investment occurred in all dwelling types, though the gain was largely led by spending on apartment and apartment-condominium buildings.
In Nova Scotia, spending on new housing construction rose 6.7 percent from the same month a year earlier to C$40.4 million (US$125 million) in March. The advance came mainly from higher investment in apartment and apartment-condominium building construction.
Investment in new housing construction decreased in the remaining provinces in March compared with March 2015. The largest decreases were observed in Alberta, Saskatchewan and Manitoba. In Alberta, this marked the ninth consecutive month of year-over-year declines, with spending down 27.4 percent to C$681 million (US$519 million).
