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Residential construction investment, fourth quarter 2014

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Released: 2015-03-04

Residential construction investment rose 6.8% to $28.5 billion in the fourth quarter compared with the same quarter in 2013. Renovation spending accounted for most of the increase at the national level, rising 10.3% to $12.9 billion. Single-family dwellings (+5.1% to $6.8 billion), row houses (+13.6% to $1.2 billion) and apartments (+3.5% to $3.8 billion) also contributed to the gain.

Total investment in residential construction was up in eight provinces in the fourth quarter, led by Ontario, followed by Quebec, Alberta and British Columbia. The advance in Ontario (+7.3% to $10.7 billion) was the result of increased investment in renovations and, to a lesser extent, single-family dwellings. The gain in Quebec (+6.7% to $5.2 billion) also resulted from higher renovation spending, although apartments and row houses also contributed. Alberta's advance (+6.8% to $4.6 billion) stemmed from higher investment in both single-family dwellings and apartments, while most of British Columbia's gain (+6.7% to $4.5 billion) came from single-family dwellings and renovations.

Overall for the year, residential construction investment totalled $109.5 billion, up 3.8% from the previous year. This marked the fifth consecutive yearly increase. The majority of the gain came from higher renovation spending (+7.3% to $50.6 billion), followed by row houses (+15.2% to $4.4 billion) and single-family dwellings (+1.9% to $26.0 billion).

In 2014, Alberta posted the largest increase (+12.2% to $18.2 billion), followed by Ontario (+3.3% to $39.5 billion) and British Columbia (+5.8% to $16.3 billion). Conversely, every Atlantic province saw lower construction spending, except New Brunswick, which posted a slight increase (+0.3% to $1.6 billion) compared with 2013.

  Note to readers

Data on residential construction investment are not seasonally adjusted and most comparisons in this release are between the fourth quarter of 2014 and the fourth quarter of 2013. Some comparisons are made between the investment values for the full year of 2014 and the previous year. Data are expressed in current dollars and are available at national and provincial levels.

A new revision schedule has been implemented. Annual revisions of the three most recent calendar years will take place during the release of the third quarter data at the beginning of December, rather than in June, as was previously the practice.

With this release, data for the first quarter to the third quarter of 2014 have been revised. Unless otherwise stated, the highlights are ranked in terms of dollar change rather than percentage change.

Data on residential construction investment for the first quarter will be released on June 3.

Contact information

For more information, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca).

To enquire about the concepts, methods or data quality of this release, contact Mariane Bien-Aimé (613-951-7520), Investment, Science and Technology Division.

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