Canadian New Housing Construction Investment Up 9.1% in December

Investment in all types of dwellings led the increase.

Canadian investment in new housing construction increased 9.1 percent year over year to C$4.3 billion (US$3.2 billion) in December compared with the same month in 2015, according to Statistics Canada.

For the second consecutive month, the increase at the national level reflected higher investment in all types of dwelling.

Spending on single-family dwellings, up 14.9 percent from the same month a year earlier, accounted for over half of the advance in November. Investment in row houses increased 9.9 percent to C$383 million (US$290 million). Investments in apartment and apartment-condominium buildings rose 1.4 percent to C$1.4 billion (US$1.06 billion) and semi-detached dwellings increased 3.6 percent to C$187 million (US$141 million)

Provincially, Ontario (+15.6 percent) and British Columbia (+30.7 percent) recorded the largest year-over-year gains, followed by Quebec (+6.4 percent).  Alberta registered the largest decrease in spending on new residential construction, down 21 percent.

In Ontario, new residential construction investment rose 15.6 percent to C$1.8 billion (US$1.3 billion). All dwelling types saw higher spending, led by single-family dwellings, which rose 21.3 percent from the same month one year earlier.

In British Columbia, investment increased 30.7 percent year over year to C$933 million (US$707 million), with all dwelling types registering higher spending. The advance was led by apartment and apartment-condominium buildings (+46.2 percent) and single-family homes (+19.8 percent).

In Quebec, investment rose 6.4 percent to C$650 million (US$492 million). Single-family dwellings saw a gain of 29 percent with apartment and apartment-condominium buildings down 10.2 percent.

In Alberta spending on new residential construction was down 21 percent to C$575 million (US$435 million). The decline was led by apartment and apartment-condominium buildings (-42.8 percent), followed by single-family homes (-9.4 percent) and row houses (-35.6 percent).

 

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