Investment in new housing construction, November 2015
Investment in residential construction rose 2.2% to $4.3 billion in November compared with the same month in 2014.
Higher construction spending on apartment and apartment-condominium buildings largely explained the advance. The gains in three provinces, led by Ontario, more than offset the declines in the other seven provinces.
New housing investment led by apartment and apartment-condominium buildings
Nearly two of every five dollars spent on residential investment was dedicated to apartment and apartment-condominium building construction. Investment spending on apartment and apartment-condominium buildings increased 26.6% year over year to $1.6 billion.
The investment for row-house dwelling construction was $416 million in November, up 3.4% compared with the same month in 2014.
Construction spending on single-family dwellings declined 9.6% to $2.1 billion, while construction spending on semi-detached dwellings was down 17.9% to $178 million from November 2014 levels.
Ontario posts largest advance in new housing investment
In November, the value of new housing construction increased in three provinces, led by Ontario and British Columbia. Ontario recorded the largest increase by far, with substantial gains in construction spending. Alberta posted the largest decrease.
Investment in new residential construction in Ontario rose 23.1% year over year to $1.7 billion. Higher investment in apartment and apartment-condominium buildings and in single-family dwellings largely explained the advance.
In British Columbia, construction spending rose 13.9% to $784 million in November compared with the same month in 2014. The gain was largely the result of higher construction spending on apartment and apartment-condominium buildings and, to a lesser extent, single-family dwellings and row houses.
In Alberta, investment in residential construction amounted to $818 million in November, down 15.7% year over year.
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 November 2014 and November 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.
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