Canadian investment in new housing construction increased 8.7 percent to C$4 billion (US$3 billion) in January compared with the same month in 2016, according to Statistics Canada.
The increase was mainly due to higher spending on single-family homes (12.1 percent), followed distantly by apartment and apartment-condominium buildings (4.6 percent), row houses (8.7 percent) and semi-detached homes (3.8 percent). Six provinces posted gains in new housing construction, led by Ontario and British Columbia.
Spending in Ontario increased 18.5 percent year over year to C$1.8 billion (US$1.3 billion) in January. This gain was attributable to higher spending on single-family dwellings, apartment and apartment-condominium buildings and row houses. Construction spending for semi-detached buildings posted a decline.
In British Columbia spending rose 23.8 percent compared with the same month a year earlier to C$866 million (US$651.4 million). The gain was led by greater spending on construction of apartment and apartment-condominium buildings. Higher spending on single-family home and row house construction also contributed to the increase.
Alberta registered the greatest decline in investment, with spending falling 19 percent to C$560 million (US$421.2 million). The decrease resulted mostly from lower investment in the construction of apartment and apartment-condominium buildings.
