Overall, investment in building construction decreased 1.1% (-$243.3 million) to $21.4 billion in October, after a 2.6% increase in September. Year over year, investment in building construction grew 3.4% in October.
In October, investment in the residential building construction sector decreased by $312.3 million to $14.9 billion, while investment in the non-residential sector rose by $69.0 million to $6.5 billion.
Investment in multi-unit construction was the only component to post a decrease (-5.1%; -$423.2 million) in October, dragging down gains posted in the other components.
On a constant dollar basis (2017=100), investment in building construction decreased 1.1% compared with the previous month to $12.9 billion in October, but was up 0.3% year over year.
Chart 1: Investment in building construction, seasonally adjusted
Description - Chart 1
Data table: Investment in building construction, seasonally adjusted
Source: Table 34-10-0286-01.
Ontario's multi-unit component drags down residential sector in October
Investment in residential building construction declined 2.1% to $14.9 billion in October. Monthly decreases were recorded in six provinces and two territories, led by Ontario (-$315.8 million), British Columbia (-$67.7 million) and Nova Scotia (-$42.6 million). These declines were moderated by upward movement in four provinces and one territory, with Quebec (+$76.5 million) leading the gains.
Investment in multi-unit construction was down 5.1% to $7.8 billion in October, following the record high of $8.2 billion reached in the previous month. The monthly decline in October was driven by Ontario (-$434.9 million), marking its first decrease after four consecutive monthly gains.
Single family home investment rose 1.6% to $7.1 billion in October.
Infographic 1: Investment in residential building construction, October 2024
Description - Infographic 1
The title of the infographic is "Investment in residential building construction, October 2024"
The infographic includes multiple components, such as a map, tables, pictographs and images.
The text on the infographic, as well as the pie chart and map data, is as follows:
Figure 1: Month-to-month change in residential construction investment (seasonally adjusted).
This is a map of Canada by province and territory, showing the month-to-month percentage changes for investment in residential construction. Green arrows pointing upward represent an increase, while red arrows pointing downward represent a decrease.
In October, investment in residential construction for Canada decreased 2.1% compared to September 2024. Newfoundland and Labrador was up 45.7%, Prince Edward Island was down 11.5%, Nova Scotia was down 9.4%, New Brunswick was up 5.1%, Quebec was up 2.5%, Ontario was down 5.2%, Manitoba was down 3.3%, Saskatchewan was down 6.0%, Alberta was up 2.7%, British Columbia was down 2.8%, Yukon was up 10.9%, Northwest Territories was down 21.8%, Nunavut was down 18.6%.
Table 1: Total investment, millions of dollars (seasonally adjusted).
Total investment for Canada was $14,897.7 million, total investment for Newfoundland and Labrador was $106.4 million, total investment for Prince Edward Island was $67.2 million, total investment for Nova Scotia was $410.2 million, total investment for New Brunswick was $262.5 million, total investment for Quebec was $3,140.2 million, total investment for Ontario was $5,773.5 million, total investment for Manitoba was $591.5 million, total investment for Saskatchewan was $301.0 million, total investment for Alberta was $1,791.0 million, total investment for British Columbia was $2,326.6 million, total investment for Yukon was $67.9 million, total investment for Northwest Territories was $10.3 million, total investment for Nunavut was $49.5 million.
Figure 2: Investment in new residential construction, market share and year-over-year change (not seasonally adjusted).
Single homes: Market share was 35.5%, total investment totalled $2,751.6 million, representing a year-over-year increase of 2.6% or $69.3 million.
Semi-detached homes: Market share was 3.1%, total investment totalled $236.7 million, representing a year-over-year increase of 10.4% or $22.2 million.
Row homes: Market share was 9.8%, total investment totalled $761.7 million, representing a year-over-year decrease of 6.3% or $51.0 million.
Condos and rental apartments: Market share was 51.6%, total investment totalled $4,001.8 million, representing a year-over-year decrease of 2.6% or $107.8 million.
Note: Single homes value excludes cottages and mobile homes.
Source: Table 34-10-0286-01.
Chart 2: Investment in residential building construction, seasonally adjusted
Description - Chart 2
Data table: Investment in residential building construction, seasonally adjusted
Source: Table 34-10-0286-01.
Non-residential investment increases in October
Investment in non-residential construction increased 1.1% (+$69.0 million) to $6.5 billion in October.
The industrial component increased 1.9% (+$25.9 million) to $1.4 billion in October, with Ontario (+$15.0 million) and Manitoba (+$14.6 million) leading the way. These gains were moderated by declines in four provinces and one territory.
Commercial construction investment edged up 0.3% (+$11.1 million) to $3.2 billion in October. Gains in Ontario (+$26.2 million) were tempered by declines recorded in seven provinces and two territories.
In October, institutional construction investment rose 1.8% (+$32.0 million) to $1.9 billion, with eight provinces and three territories posting increases. Only Quebec (-$5.2 million) and New Brunswick (-$0.7 million) recorded decreases in institutional construction investment in the month.
Infographic 2: Investment in non-residential building construction, October 2024
Description - Infographic 2
The title of the infographic is "Investment in non-residential building construction, October 2024"
The infographic includes multiple components, such as a map, tables, pictographs and images.
The text on the infographic, as well as the pie chart and map data, is as follows:
Figure 1: Month-to-month change in non-residential construction investment (seasonally adjusted).
This is a map of Canada by province and territory, showing the month-to-month percentage changes for investment in non-residential building construction. Green arrows pointing upward represent an increase, while red arrows pointing downward represent a decrease.
In October, investment in non-residential for Canada increased 1.1% compared to September 2024. Newfoundland and Labrador was down 3.4%, Prince Edward Island was up 3.3%, Nova Scotia was up 2.9%, New Brunswick was down 1.4%, Quebec was down 0.5%, Ontario was up 1.9%, Manitoba was up 7.9%, Saskatchewan was up 0.3%, Alberta was up 0.9%, British Columbia was down 0.6%, Yukon was up 10.9%, Northwest Territories was up 1.9%, Nunavut was up 29.6%.
Table 1: Total investment, millions of dollars (seasonally adjusted).
Total investment for Canada was $6,502.5 million, total investment for Newfoundland and Labrador was $28.9 million, total investment for Prince Edward Island was $23.6 million, total investment for Nova Scotia was $110.2 million, total investment for New Brunswick was $95.5 million, total investment for Quebec was $1,301.4 million, total investment for Ontario was $2,783.7 million, total investment for Manitoba was $230.5 million, total investment for Saskatchewan was $149.5 million, total investment for Alberta was $738.2 million, total investment for British Columbia was $1,011.1 million, total investment for Yukon was $16.8 million, total investment for Northwest Territories was $4.5 million, total investment for Nunavut was $8.7 million.
Figure 2: Investment in non-residential construction, market share and year-over-year change (seasonally adjusted).
Industrial: Market share was 21.6%, total investment totalled $1,406.0 million, representing a year-over-year increase of 3.6% or $49.2 million.
Commercial: Market share was 49.8%, total investment totalled $3,241.3 million, representing a year-over-year decrease of 0.5% or $16.8 million.
Institutional: Market share was 28.5%, total investment totalled $1,855.2 million, representing a year-over-year increase of 13.6% or $222.1 million.
Source: Table 34-10-0286-01.
For more information on construction, please visit the Construction statistics portal.
For more information on housing, please visit the Housing statistics portal.
Note to readers
Table 34-10-0175 has been archived on the Statistics Canada website and will no longer be updated but may still be viewed. The successor table is 34-10-0286, and the information from January 2017 onwards that was in table 34-10-0175 is still available in the new table, except for the constant dollar series, which have been rebased to 2017=100. Constant dollar data for January and February 2017 represent an average between the old base year (2012=100) and the new base year (2017=100) and should be used with caution. These 2017 data series will be backcasted and the figures will be revised with the release of our annual revision.
Data are subject to revisions based on late responses, delayed construction start dates for large projects, methodological changes, classification updates, price index updates for constant dollar series, benchmarking and adjustments to ad hoc macroeconomic events. Unadjusted data have been revised back to January 2023. Seasonally adjusted data have been revised back to January 2017.
Data presented in this release are seasonally adjusted with current dollar values unless otherwise stated. Using seasonally adjusted data allows month-to-month and quarter-to-quarter comparisons by removing the effects of seasonal variations. For information on seasonal adjustment, see Seasonally adjusted data – Frequently asked questions.
Monthly estimates for constant dollars are calculated using quarterly deflators from the Building Construction Price Index (18-10-0276-01). The monthly indexes used for the deflation process were part of a methodology review to increase the quality of the constant dollar and seasonally adjusted series. The indexes previously displayed a step pattern because of less frequent collection.
Detailed data on investment activity by type of building and type of work are now available in the unadjusted current dollar series.
The trade and services subcomponent includes buildings such as retail and wholesale outlets, retail complexes and motor vehicle show rooms. More detailed information can be found on the Integrated Metadatabase at Types of Building Structure - 2.2.1 - Trade and services.
Reference
Data table: 34-10-0286-01.
Definitions, data sources and methods: survey number 5014.
Previous release: Investment in building construction, September 2024.
Next release: January 20, 2025.
Contact information
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