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Investment in new housing construction, October 2017

Released: 2017-12-19

Investment in new housing construction — Canada

$5,430.9 million

October 2017

7.4% increase

(12-month change)

Investment in new housing construction — N.L.

$29.2 million

October 2017

-16.0% decrease

(12-month change)

Investment in new housing construction — P.E.I.

$19.6 million

October 2017

49.0% increase

(12-month change)

Investment in new housing construction — N.S.

$72.7 million

October 2017

7.5% increase

(12-month change)

Investment in new housing construction — N.B.

$39.0 million

October 2017

6.6% increase

(12-month change)

Investment in new housing construction — Que.

$814.6 million

October 2017

12.0% increase

(12-month change)

Investment in new housing construction — Ont.

$2,187.2 million

October 2017

4.0% increase

(12-month change)

Investment in new housing construction — Man.

$145.2 million

October 2017

27.6% increase

(12-month change)

Investment in new housing construction — Sask.

$114.6 million

October 2017

-5.3% decrease

(12-month change)

Investment in new housing construction — Alta.

$799.7 million

October 2017

19.6% increase

(12-month change)

Investment in new housing construction — B.C.

$1,197.2 million

October 2017

3.5% increase

(12-month change)

Investment in new housing construction — Y.T.

$6.5 million

October 2017

-20.4% decrease

(12-month change)

Investment in new housing construction — N.W.T.

$2.5 million

October 2017

-36.6% decrease

(12-month change)

Investment in new housing construction — Nvt.

$3.0 million

October 2017

-5.5% decrease

(12-month change)

New housing construction investment totalled $5.4 billion in October, up 7.4% compared with October 2016.

Nationally, year-over-year increases were posted for all dwelling types, led by spending on apartment buildings (+8.7% to $2.0 billion) followed by spending on row house construction (+22.9% to $592.8 million). Despite a smaller year-over-year increase, investment in single-family homes accounted for nearly half (47.8% or $2.6 billion) of total spending on new housing construction.

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

The increased spending on apartment building construction in October was mainly attributable to higher investment in Quebec (+$127.0 million), which accounted for the vast majority of the total national increase in spending for this dwelling type. In contrast, Alberta (-$10.0 million) and Ontario (-$7.6 million) posted the largest declines in apartment building construction.

In October, investment in new row housing construction continued to rise in most provinces, with Ontario posting the largest year-over-year increase (+$82.0 million).

Spending on single-family homes rose in five provinces in October, up 2.5% to $2.6 billion. The increase was driven mainly by Alberta, where spending on single-family homes rose by $110.7 million. Over the same period, Quebec (-$42.2 million) and Ontario (-$12.4 million) reported lower spending on single-family home construction.

Changing investment landscape in Ontario and British Columbia

Over the last decade, Ontario and British Columbia have displayed a shift in the distribution of investment for each building type, with the most noticeable changes in single-family homes and apartments.

Looking back at October 2007 in Ontario, spending on single-family home construction accounted for 65.8% of total investment, compared with 50.6% for the same period in 2017. Conversely, spending on apartment building construction increased from 17.3% to 29.6% of the total investment on new building construction.

A similar pattern was observed in British Columbia, where single-family homes accounted for 45.3% of the total spending on new building construction in October 2007, compared with 39.7% in October 2017. In contrast, spending on apartment building construction rose from 41.9% of total investment to 49.4% over the same period.

The shift from investment in single-family homes to apartment building construction in some areas may be influenced by a number of factors, such as an aging population, housing affordability and availability, as well as by initiatives and policies at various levels of government, which focus on reducing urban sprawl and managing growth.

More information on this subject is available in Evolution of housing in Canada, 1957 to 2014.



  Note to readers

Data on investment in new housing construction (including single-family housing, semi-detached housing, row housing, apartments and condominiums) are not seasonally adjusted, and all comparisons in this release are between October 2016 and October 2017.

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

Revised data for January 2014 through December 2016 are now available with this release.

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, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; STATCAN.infostats-infostats.STATCAN@canada.ca) or Media Relations (613-951-4636; STATCAN.mediahotline-ligneinfomedias.STATCAN@canada.ca).

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