Residential Construction Investment Rises 3.9% YOY in Q2 2016

37 stats can

  September 7, 2016

The total value of investment in residential construction increased 3.9% to $30.8 billion in the second quarter compared with the same quarter in 2015. This marked the 10th consecutive year-over-year advance.

Higher investment in every component contributed to the national growth, except semi-detached dwellings, which recorded their fifth consecutive year-over-year quarterly decline.

Spending on apartment and apartment-condominium building construction (up 17.0% to $4.5 billion) and single-family dwelling construction (up 4.7% to $6.6 billion) accounted for much of the gain at the national level.

At the provincial level, increases occurred in five provinces, led by Ontario, followed by British Columbia and Quebec.

In Ontario, residential construction investment rose 10.7% to $12.0 billion in the second quarter compared with the same quarter a year earlier. The increase was mainly attributable to higher investment in single-family dwellings, apartment and apartment-condominium buildings and, to a lesser extent, renovations and row houses.

In British Columbia, construction spending grew 17.0% from the second quarter of the previous year to $4.9 billion in the second quarter. The gain was largely the result of higher spending on apartment and apartment-condominium buildings and single-family dwellings, as well as higher acquisition costs related to new dwelling units.

In Quebec, residential construction spending totalled $6.6 billion in the second quarter, up 6.3% from the same quarter a year earlier. This marked the second consecutive year-over-year gain. The advance was mostly due to higher acquisition costs, increased investment in apartment and apartment-condominium buildings, and a rise in spending on renovation work.

Alberta registered the largest decline among the other five provinces, followed distantly by Nova Scotia.

In Alberta, residential construction investment fell 17.4% to $4.2 billion in the second quarter compared with the second quarter of 2015. This was the fifth consecutive quarterly decline. The decrease was largely the result of lower spending on all four principal dwelling types, with single-family dwellings accounting for most of the decline.

In Nova Scotia, spending on residential construction declined year over year for the third consecutive quarter, down 20.7% to $483 million. The decrease was largely attributable to lower investment in renovation work, as the advance in other components, such as single-family dwellings and acquisition costs, was not enough to offset the decline.

 

Source: Statistics Canada, http://www.statcan.gc.ca/daily-quotidien/160902/dq160902c-eng.htm.

 

 

 

Related Articles


Latest Articles

  • Video: LEDVANCE Lightpoint Learning Facility

    Video: LEDVANCE Lightpoint Learning Facility

    February 23, 2024 LIGHTPOINT Studio & Showroom, the brand-new corporate classroom training facility, located at their national customer service and sales center (NCSSC) in Westfield, IN. Go HERE for more information Read More…

  • How Effective Communication Reduces Plant Hazards

    How Effective Communication Reduces Plant Hazards

    February 23, 2024 By Rick Farrell, President, PlantTours In plant operations, the margin for error is notoriously slim. The smallest oversight, a single misinterpreted instruction, or an unnoticed alert can be the difference between smooth operations and catastrophic failures. While advanced technologies and protocols play an undeniable part in ensuring safety, the bedrock upon which… Read More…

  • A Guide To The Most Essential Hand Tools for Electricians

    A Guide To The Most Essential Hand Tools for Electricians

    February 22, 2024 By Jonard Tools It is currently a great time to be an electrician- however, you’ll need the right hand tools for the job. In this article Jonard Tools highlight the most essential hand tools for electrical work, as well as dive into the specifics of how they are utilized and why they’re… Read More…

  • New Research on Smart Home Technology and Market Trends

    New Research on Smart Home Technology and Market Trends

    February 22, 2024 AI-driven features in home energy management and security systems excite more than half of the current smart home users, concludes new research exploring the perceptions, preferences, and reservations of residential renters and owners regarding the adoption and usage of smart home technologies. However, the survey also highlights data privacy concerns and high… Read More…


Changing Scene

  • Third Annual Greenlee® Experience Contest Accepting Entries Until March 15

    Third Annual Greenlee® Experience Contest Accepting Entries Until March 15

    February 27, 2024 Greenlee® is bringing back Greenlee Experience for a third year to celebrate electrical and utility professionals for their hard work and achievements. Entries are being accepted until March 15 for the all-expenses-paid trip being held July 31 to August 2, 2024, at one of its manufacturing facilities in Elyria, Ohio. Six grand… Read More…

  • LEDVANCE Canada Welcomes Cristiano Konofal as National Account Manager

    LEDVANCE Canada Welcomes Cristiano Konofal as National Account Manager

    February 26, 2024 LEDVANCE Canada has introduced Cristiano Konofal as their National Account Manager. “I am thrilled to announce the return of Cristiano Konofal as a National Account Manager. Cristiano has extensive experience working with our customer base and has technical skills that will be an asset to our team. We look forward to seeing… Read More…

  • Government of Canada Invests in TDG Transit Design Group

    Government of Canada Invests in TDG Transit Design Group

    February 23, 2024 The Governemnt of Canada has announced a FedDev Ontario investment of over $1.6 million for TDG Transit Design Group, a manufacturer and designer of made-in-Canada, energy-efficient LED lighting systems for the global rail transit industry. Through this investment, TDG Transit Design Group will adopt new equipment at its newly expanded 10,000-square-foot facility… Read More…

  • Alberta to Invest in Apprenticeship Seats Through 2024 Budget

    Alberta to Invest in Apprenticeship Seats Through 2024 Budget

    February 23, 2024 Through their Budget 2024, Alberta’s government would invest an additional $24 million per year over the next three years to create 3,200 apprenticeship seats at 11 post-secondary institutions across the province. The new investment would bring the total funding through the Apprenticeship Learning Grant for the 2024-25 academic year to $78 million…. Read More…