Canadian New Housing Construction Investment Up 4.8% in December - Modern Distribution Management

Canadian New Housing Construction Investment Up 4.8% in December

Apartment and apartment-condominium buildings led the increase, rising 23.9 percent.

Canadian investment in new housing construction increased 4.8 percent to C$3.9 billion (US$2.9 billion) in December compared with the same month in 2014, according to Statistics Canada.

The increase was mainly due to higher construction spending on apartment and apartment-condominium buildings, which rose 23.9 percent year-over-year to C$1.4 billion (US$1 billion). Spending in row house construction increased 3.4 percent to C$348 million (US$254.4 million).

Conversely, investment in single-family dwellings fell 3.4 percent year over year to C$2 billion (US$1.5 billion). Spending on semi-detached dwelling construction declined 16.2 percent to $181 million.

At the provincial level, Ontario, British Columbia and Quebec reported the largest increases.

In Ontario, spending on new residential construction rose 23.1 percent compared with December 2014 to C$1.5 billion (US$1.1 billion) in December. Higher investment in the construction of single-family dwellings as well as apartment and apartment-condominium buildings largely explained the advance.

In British Columbia, investment in new residential construction increased 12.6 percent from the same month a year earlier to C$713 million (US$521.2 million) in December. The gain was attributable to higher spending on apartment and apartment-condominium buildings, single-family dwellings and row houses.

In Quebec, investment grew 3.1 percent year over year to C$611 million (US$446.6 million). Increased spending on apartment and apartment-condominium building construction more than offset lower investment in single-family housing, semi-detached dwellings and row houses.

In contrast, Alberta registered the largest decline in spending on new housing construction in December, followed by Saskatchewan and Manitoba.

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