January New Housing Construction Spending Up 9.4% YOY

Economy

 

Apr 2, 2018

New housing construction investment totalled $4.4 billion in January, up 9.4% compared with January 2017. Investment was up for all dwelling types.

Spending rose in eight provinces, led by Quebec (+$139.1 million), British Columbia (+$128.3 million) and Alberta (+$82.6 million). The increase in Quebec was driven by investment in apartment building construction. In British Columbia, year-over-year gains were posted for all dwelling types, with single homes (+$52.3 million) and apartments (+$52.1 million) accounting for the majority of the increase.

In Alberta, spending increased in every component, led by single homes (+$56.6 million), which accounted for over two-thirds of the increase compared with January 2017.
Spending on apartment buildings continues to lead the national growth.

Apartment buildings were the largest contributor to the year-over-year growth in residential construction investment in Canada, up $232.5 million (+16.9%) in January. Expenditures on apartment buildings were up in every province, led by Quebec (+$153.3 million) and followed by British Columbia (+$52.1 million). Apartment building construction accounted for 62.1% of total construction investment in Quebec compared with 49.7% in January 2017.

Investment in row house construction rose $102.3 million (+26.3%) compared with the same period a year earlier. Seven provinces reported gains, led by Ontario (+$62.2 million) and Alberta (+$19.8 million).

Single home construction investment (+0.2%) reported the smallest year-over-year increase since January 2016. Higher investment in single family home construction in Alberta (+$56.6 million) and British Columbia (+$52.3 million) were largely offset by lower investment in Ontario (-$82.3 million). This was the largest year-over-year drop for single family homes in Ontario since October 2009.

Source: Statistics Canada, www.statcan.gc.ca/daily-quotidien/180321/dq180321b-eng.htm

Related Articles

Latest Articles

  • Navigating Tariff Uncertainty as an Electrical Contractor

    April 15, 2025 By Matthew Biswas These three words put me into a catatonic shock – Supply Chain Disruption. It seems like just yesterday I was standing at a counter asking for products I’d bought 100’s of times before and being told they are on backorder with no expected delivery date. Circuit breakers, dimmers, panels,… Read More…

  • Four Ways Permanent Power Enahnces Outdoor Spaces

    Four Ways Permanent Power Enahnces Outdoor Spaces

    April 14, 2025 Today’s workplaces are expanding beyond the four walls of an office. As technology continues to evolve, employees are looking for new and alternative workspaces to inspire creativity and increase productivity. This includes taking their work to outdoor spaces. Bringing technology to outdoor spaces has become a challenge for facility managers and property… Read More…

  • CAF-FCA Provides Recomendations on Apprenticeship Investment

    CAF-FCA Provides Recomendations on Apprenticeship Investment

    April 13, 2025 CAF-FCA have provided an outline of actionable recommendations—developed through national consultation—to enhance accessibility, reduce financial barriers, and better align apprenticeship training with industry needs. Source Read More…

  • New Report: Preparing Alberta’s Buildings for Severe Weather

    New Report: Preparing Alberta’s Buildings for Severe Weather

    April 13, 2025 Alberta is facing more severe weather events, with rising temperatures, wildfires, and more frequent extreme storms threatening homes and businesses. Our report, Preparing Alberta’s Buildings for Severe Weather−written in partnership with the Alberta Ecotrust Retrofit Accelerator program−highlights the need for deep retrofits to ensure the province’s buildings can withstand these changing conditions. Four… Read More…

Changing Scene