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Investment in new housing construction, October 2015

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Released: 2015-12-22

The value of investment in new residential building construction rose 4.3% year over year to $4.7 billion in October, following a 4.8% gain the previous month.

The increase at the national level was mainly attributable to higher construction spending on apartment and apartment-condominium buildings, which offset declines in investment related to single-family and semi-detached dwelling construction.

Chart 1  Chart 1: Investment in new housing construction, by type of dwelling
Investment in new housing construction, by type of dwelling

Spending on apartment and apartment-condominium building construction posts sixth consecutive double-digit increase

Investment in apartment and apartment-condominium building construction rose 27.6% to $1.8 billion in October compared with the same month in 2014. This was the sixth consecutive double-digit advance. Spending on row house construction increased 2.1% from October 2014 to $438 million.

Investment in single-family dwelling construction declined for the fifth consecutive month year over year, down 6.9% to $2.2 billion in October. Spending on double house construction continued a downward trend that started earlier in the spring, declining 15.1% from the same month a year earlier to $220 million in October.

Ontario posts the largest advance in new housing construction spending

Investment in new housing construction increased in five provinces, led by Ontario, followed by British Columbia and Nova Scotia.

In Ontario, construction spending rose 20.8% year over year to $1.9 billion in October. The increase came mainly from higher investment in the construction of apartment and apartment-condominium buildings, which rose 36.7% to $628 million, and single-family dwellings, which advanced 18.4% to $953 million.

In British Columbia, investment grew 16.7% to $872 million in October compared with the same month in 2014. The gain resulted from higher construction spending on apartment and apartment-condominium buildings, which rose 30.2% to $391 million, and single-family houses, which rose 8.8% to $380 million.

In Nova Scotia, construction spending in new residential buildings grew 23.3% year over year to $77 million in October. Increased investment in apartment and apartment-condominium building construction was responsible for the advance, as spending on single-family dwellings and row housing declined.

Alberta, which is still the second largest contributor to investment estimates in new housing construction, posted the largest decrease year over year in October, falling 14.3% to $911 million. Saskatchewan and Manitoba followed, with the second and third biggest declines.



  Note to readers

Data on investment in new housing construction (including single-family dwellings, semi-detached dwellings, row housing, apartments and condominiums) are not seasonally adjusted and all comparisons in this release are between October 2014 and October 2015.

Data in CANSIM are available at the national and provincial–territorial levels, in both current and constant dollars (base year 2007).

Unless otherwise specified, the highlights refer to current dollars and are ranked in terms of dollar change rather than percentage change.

Contact information

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

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

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