Higher spending on new residential builds in April
June 21, 2016 – Spending on new residential construction totalled $4.2 billion in April, up 8.4 per cent from the same month a year earlier.
By Brandi Cowen
Statistics Canada reports the increase was driven by higher investment in apartment and apartment-condominium buildings, which rose 20.8 per cent to $1.5 billion.
Higher spending on row houses (up 14.2 per cent to $433 million) and single-family dwellings (up 2.1 per cent to $2.1 billion) also contributed to the advance.
In contrast, investment in semi-detached dwellings declined year over year for the 12th consecutive month, down 14.7 per cent to $195 million in April.
At the provincial level, advances in new housing construction spending were recorded in five provinces, led by Ontario and followed by British Columbia and Quebec.
In Ontario, investment in new residential construction increased 32.7 per cent year over year to $1.7 billion in April, largely due to higher investment in single-family homes.
All dwelling types recorded higher construction spending, except semi-detached buildings, which posted a 14th consecutive monthly year-over-year decline.
In British Columbia, spending on new housing construction rose 28.3 per cent year over year to $945 million in April. Higher investment in apartment and apartment-condominium buildings contributed the most to the gain, followed by single-family dwellings and row houses. Investment in semi-detached dwellings declined for the 10th consecutive month.
In Quebec, investment in new residential construction totalled $590 million in April, up 5.8 per cent compared with April 2015. Higher spending on apartment and apartment-condominium buildings more than offset declines in single-family and semi-detached dwellings.
Spending on new housing construction decreased in five provinces in April, with Alberta registering the largest decline, followed by Saskatchewan and Manitoba. In Alberta, decreased investment occurred in all dwelling types, although the decline was mainly attributable to lower spending on single-family dwellings.