Canadian investment in new housing construction increased 9 percent to C$4.2 billion (US$3.1 billion) in March compared with the same month in 2016, according to Statistics Canada.
This gain was mainly the result of a C$252.6 million (US$186.5 million) increase in investments in Ontario.
Nationally, higher investments were observed for the four main types of dwellings. The biggest gain was observed in spending on single-family dwellings, rising C$265.8 million (US$196.2 million) to C$2.2 billion (US$1.6 billion). This accounted for just over half (51.8 percent) of total spending on residential construction in March.
Investments in apartment building construction totaled C$1.4 billion (US$1 billion) in March, accounting for 33.4 percent of total spending. At the national level, investments in this type of dwelling edged up 0.2 percent from March 2016. Five provinces posted increases for this type of dwelling, led by British Columbia with C$70.3 million (US$51.9 million), while the other provinces reported declines, with Alberta falling by C$52.7 million (US$38.9 million) and Ontario down C$17.2 million (US$12.7 million) compared with March 2016.
Investments of C$438.7 million (US$323.9 million) in new row housing construction represent an increase of 14.4 percent compared with March 2016 levels. For this type of dwelling, eight provinces posted increases, led by Ontario with a C$52.5 million (US$38.7 million) gain year over year.
Compared with March 2016, construction spending on double dwellings rose 12.4 percent to C$183.9 million (US$135.7 million) in March, with every province except British Columbia and Manitoba showing increases.
In March, eight provinces saw higher spending in new housing construction compared with the same month a year earlier. Ontario posted the greatest increase for a total of C$1.8 billion (US$1.3 billion) in spending. Alberta reported a loss of C$52.7 million (US$38.9 million) and Newfoundland and Labrador a loss of $6.7 million (US$4.9 million).
Ontario saw increases for all types of dwellings except apartments, which fell 3.6 percent compared with March 2016.
Investment in new housing construction in Manitoba rose 39.2 percent year over year to C$116.1 million (US$85.7 million). This gain was mainly attributable to higher investments in single-family dwellings (51.6 percent), although increases were posted for all dwelling types other than double dwellings.
Quebec was the lone province to have posted increases for all types of dwellings. Investments in apartment building construction accounted for 56.1 percent of total investments, the highest proportion among the provinces.
