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

  • A Career with Purpose – Apprentices Building Canada’s Reduced Carbon Future

    A Career with Purpose – Apprentices Building Canada’s Reduced Carbon Future

    January 27, 2023 By Yoana Turnin, Project Manager, EHRC In 2021, Canada joined 120+ other countries in committing to achieving net-zero emissions by year 2050 in an effort to “avert the worst impacts of climate change.” In a few words, that means either reducing or offsetting the economy’s greenhouse gas emissions through electrification, energy efficiency… Read More…

  • Challenges, Opportunity, and Labour Demand in the Construction Industry

    Challenges, Opportunity, and Labour Demand in the Construction Industry

    January 27, 2023 By Blake Marchand There is some uncertainty in the overall market right now, relating to inflation, interest rates, even global events like the war in Ukraine has an impact. These factors will have an impact on the construction industry, which may have an impact on broader opportunities for electrical contractors. Although, anecdotally… Read More…

  • First Retrofit Financed by the Canada Infrastructure Bank Receives IREE Certification

    First Retrofit Financed by the Canada Infrastructure Bank Receives IREE Certification

    January 27, 2023 The Canada Green Building Council (CAGBC) and the Canada Infrastructure Bank (CIB) have announced Dream’s 366 Bay St. redevelopment in Toronto is the first retrofit project financed by the CIB to achieve Investor Ready Energy Efficiency (IREE) certification. IREE certification is part of the CIB’s Building Retrofits Initiative and is administered through… Read More…

  • Natural Resources Canada Launches Call for Proposals for the Delivery of the Codes Acceleration Fund

    Natural Resources Canada Launches Call for Proposals for the Delivery of the Codes Acceleration Fund

    January 27, 2023 The Government of Canada is taking action to fight climate change by reducing greenhouse gas emissions and improving energy efficiency. The buildings sector is the third-largest source of emissions in Canada, which is why Canada’s upcoming Green Buildings Strategy will be critical to achieving Canada’s climate targets, creating more climate-resilient buildings and supporting jobs in many sectors across the… Read More…


Changing Scene

  • Electricity Canada and Smart Grid Innovation Network Canada Enter Collaborative Agreement

    Electricity Canada and Smart Grid Innovation Network Canada Enter Collaborative Agreement

    January 27, 2023 Electricity Canada and Smart Grid Innovation Network Canada have entered into a collaborative agreement to share knowledge and create a climate of cooperation that initiates a new direction for both organizations to better serve the professional needs of the members, industry, and community. This agreement will increase collaboration to benefit industry in… Read More…

  • Government of Canada Launches New Intake Model for Zero-Emission Vehicles Infrastructure Funding

    Government of Canada Launches New Intake Model for Zero-Emission Vehicles Infrastructure Funding

    January 27, 2023 The Government of Canada is now accepting applications from not-for-profit organizations, public institutions and governments to locally deliver federal funding from the Zero Emission Vehicle Infrastructure Program (ZEVIP). Applications will be accepted throughout 2023 and 2024. This is yet another step the government is taking to make electric vehicle (EV) charging more accessible for… Read More…

  • Southwire Casts First Copper Bar at New Plant

    Southwire Casts First Copper Bar at New Plant

    January 27, 2023 On Saturday, Jan. 21, 2023, at 12:45 p.m. (EST), the first copper bar was cast at Southwire’s new, state-of-the-art Copper Rod Plant in Carrollton, Ga. This moment is a key milestone in the start-up of the largest and most sophisticated Southwire Continuous Rod (SCR®) system in the world. “It is truly an exciting day… Read More…

  • UL Solutions Addresses Rapid IoT and Wireless Device Market Growth with Expanded EMC Testing Capabilities

    UL Solutions Addresses Rapid IoT and Wireless Device Market Growth with Expanded EMC Testing Capabilities

    January 27, 2023 UL Solutions, a global leader in applied safety science, today announced plans to expand its electromagnetic compatibility (EMC) testing laboratories in Fremont, California, Basingstoke, United Kingdom (U.K.), and Taiwan to enhance capacity for wireless device EMC testing and certification. The U.K. and Fremont laboratories are equipped with the latest testing technologies to… Read More…