Ontario Drives Residential Sector for January Building Contruction
March 31, 2023
Investment in building construction increased 1.5% to $20.4 billion in January, with all components posting gains. The residential sector rose 1.9% to $14.9 billion, while the non-residential sector was up 0.5% to $5.6 billion.
On a constant dollar basis (2012=100), investment in building construction increased 2.4% to $11.9 billion.
Ontario drives residential sector
Investment in residential building construction advanced 1.9% to $14.9 billion in January after posting four consecutive monthly declines at the end of 2022.
Single-family home investment was up 2.4% to $8.0 billion. Ontario accounted for much of the gain with its largest increase since December 2021.
Multi-unit construction increased 1.3% to $6.8 billion, mostly driven by Ontario (+5.2%). On the other hand, Quebec continued to contract, with its eighth consecutive decline since reaching its peak in May 2022.
Investment in residential building construction, January 2023
Minor gains in non residential sector
Investment in non-residential construction continued to climb, up 0.5% to $5.6 billion in January.
Industrial construction investment rose 1.1% to $1.1 billion and was up 25.0% year over year. This was the 14th consecutive monthly increase in this component.
Commercial construction investment edged up 0.1% to $3.1 billion. Manitoba continued to climb for the fifth consecutive month, approaching pre-COVID-19 pandemic levels of investment in this component.
Institutional construction investment was up 0.7% to $1.4 billion. Overall, eight provinces reported gains, with New Brunswick posting its eighth consecutive monthly increase. Conversely, Newfoundland and Labrador posted its 15th consecutive monthly drop.
Investment in non-residential building construction, January 2023
For more information on housing, please visit the Housing statistics portal.