Canadian investment in new housing construction increased 4.8 percent to C$4.8 billion (US$3.6 billion) in August compared with the same month in 2014, according to Statistics Canada.
The increase at the national level reflected higher investment in apartment and apartment-condominium building and row house construction, as spending on single-family and semi-detached dwellings continued to decline.
Spending on apartment and apartment-condominium building construction rose 26.5 percent from the same month a year earlier to C$1.7 billion (US$1.3 billion) in September. This was the fifth consecutive double-digit increase.
Investment in row house construction also increased year over year, albeit at a slower pace, up 3.7 percent from September 2014 to C$445 million (US$333.8 million).
Investment in the construction of single-family dwellings fell 5 percent year over year to C$2.4 billion (US$1.8 billion) in September, marking the fourth consecutive decrease. Spending on semi-detached dwellings declined 13.2 percent from the same month a year earlier to C$226 million (US$169.5 million) in September.
In Ontario, investment in new housing construction increased 17.6 percent compared with September 2014 to C$1.8 billion (US$1.4 billion) in September. Spending on apartment and apartment-condominium building construction rose 34 percent to C$597 million (US$447.8 million), the second consecutive double-digit increase. Investment in single-family dwelling construction grew 15.1 percent to C$967 million (US$725.4 million).
In British Columbia, spending on new housing construction rose 15.7 percent from the same month a year earlier to C$836 million (US$627.1 million) in September. Investment in apartment and apartment-condominium building construction increased 22.2 percent to C$346 million (US$259.5 million). Spending on single-family housing construction, in turn, grew 12.3 percent to C$387 million (US$290.3 million).
In Quebec, where construction spending had been on a downward trend since December 2012, investment grew 7 percent year over year to C$719 million (US$539.3 million) in September. The increase reflected higher investment in apartment and apartment-condominium building construction, as spending on single-family housing, row houses and semi-detached dwellings declined.
Alberta registered the largest decline in new housing construction spending on a year-over-year basis in September, followed by Saskatchewan and Manitoba.
