Canadian New Housing Construction Investment Up 0.5% in July

Apartment and apartment-condominium buildings led increase, rising 17.5 percent.

Canadian investment in new housing construction increased 0.5 percent to C$4.2 billion (US$3.1 billion) in July 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 17.5 percent to C$1.4 billion (US$1 billion). Spending in row house construction also contributed to the gain in July, rising 6.3 percent to C$395 million (US$295.7 million).

At the provincial level, increases were recorded in three provinces, led by British Columbia, followed by Ontario and Nova Scotia.

In British Columbia, investment in new housing construction rose 18.9 percent to C$731 million (US$547.2 million) in July compared with July 2014. The growth was mainly attributable to higher spending on apartment and apartment-condominium building construction, as well as single-family dwelling construction.

In Ontario, spending on new housing construction totaled C$1.5 billion (US$1.2 billion) in July, up 7.9 percent from July 2014. The increase was a result of higher construction spending on single-family dwellings, which rose 13.2 percent to C$871 million (US$652 million). Increased investment in apartment and apartment-condominium building construction and row house construction also contributed to the advance.

In Nova Scotia, investment grew 27.8 percent to C$61 million (US$45.7 million) in July compared with the same month a year earlier. Higher construction spending on apartment and apartment-condominium buildings was responsible for July's advance as investment in the other dwelling types declined.

The largest decreases were recorded in Quebec, Saskatchewan and Alberta.

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