Canadian New Housing Construction Investment Up 8.4% in April

Apartment and apartment-condominium buildings led the increase, rising 20.8 percent.

Canadian investment in new housing construction increased 8.4 percent to C$4.2 billion (US$3.3 billion) in April compared with the same month in 2015, according to Statistics Canada.

Nationally, the increase was driven by higher investment in apartment and apartment-condominium buildings, which rose 20.8 percent. Higher spending on row houses (up 14.2 percent) and single-family dwellings (up 2.1 percent) also contributed to the advance.

In contrast, investment in semi-detached dwellings declined year over year for the 12th consecutive month, down 14.7 percent in April.

At the provincial level, advances in new housing construction spending were recorded in five provinces, led by Ontario, followed by British Columbia and Quebec.

In Ontario, investment in new residential construction increased 32.7 percent year-over-year in April, largely the result of higher investment in single-family homes. All dwelling types recorded higher construction spending, except semi-detached buildings, which posted a 14th consecutive monthly year-over-year decline.

In British Columbia, spending on new housing construction rose 28.3 percent year-over-year in April. Higher investment in apartment and apartment-condominium buildings contributed the most to the gain, followed by single-family dwellings and row houses. Investment in semi-detached dwellings declined for the 10th consecutive month.

In Quebec, investment in new residential construction in April was up 5.8 percent compared with April 2015. Higher spending on apartment and apartment-condominium buildings more than offset declines in single-family and semi-detached dwellings.

Spending on new housing construction decreased in five provinces in April, with Alberta registering the largest decline, followed by Saskatchewan and Manitoba. In Alberta, decreased investment occurred in all dwelling types, although the decline was mainly attributable to lower spending on single-family dwellings.

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