Strong Gains in Residential Building Construction Investment for September

November 20, 2023

Investment in building construction increased 5.3% to $18.9 billion in September. The residential sector rose 7.3% to $12.9 billion, and the non-residential sector was up 1.2% to $6.0 billion.

On a constant dollar basis (2012=100), investment in building construction increased 4.9% to $10.8 billion.

Strong gains in residential investment for September

Investment in residential building construction went up 7.3% to $12.9 billion for the month of September. Growth in residential investment was driven by Ontario (+6.7%; +$325.1 million), Quebec (+9.1%; +$191.6 million), Alberta (+10.6%; +$164.6 million) and Manitoba (+33.6%; +$102.2 million).

Strong Gains in Residential Building Construction Investment for September

Single family home investment increased 6.4% to $6.3 billion in September. After seven consecutive monthly declines, Manitoba (+58.5%; +$78.2 million) posted its largest-ever recorded monthly increase in single family investment in September.

Multi-unit construction rose 8.2% to $6.6 billion in September, with all provinces reporting gains. Ontario (+7.3%; +$180.2 million) led the way, while Alberta (+21.6%; +$141.0 million) contributed its largest monthly increase since April 2018.

Institutional investment drives non-residential sector

Investment in non-residential construction was up 1.2% to $6.0 billion in September 2023. The increase was driven mainly by Ontario, which accounted for 72.8% of the sector gains.

Industrial construction investment increased 1.2% to $1.2 billion for the month of September. Despite stabilizing in recent months, industrial investment was still up 16.2% from September 2022.

Institutional construction investment rose 4.3% to $1.5 billion in September 2023. Ontario (+11.4%; +$58.7 million) led the way, with a large hospital renovation in Toronto and the construction of a correctional facility in Thunder Bay contributing to growth in the province.

Commercial construction investment edged down 0.2% to $3.2 billion in September.

Third quarter declines due to residential sector

Across Canada, investment in building construction fell 2.8% to $54.7 billion in the third quarter, the fourth consecutive quarterly decrease. The residential sector was down 4.4% to $36.7 billion in the third quarter, while the non-residential sector rose 0.5% to $17.9 billion.

Investment in residential building construction was down by 4.4% from the second quarter to $36.7 billion in the third quarter, driven by declines in single family home investment. Multi-unit construction edged up 0.1% to $18.7 billion in the third quarter, with Alberta (+19.1%; +$328.6 million) posting its largest quarterly increase in this component since the second quarter of 2018. This partially offset declines in Ontario (-3.1%; -$238.7 million) and British Columbia (-4.0%; -$170.7 million) in the third quarter of 2023.

Investment in non-residential construction was up 0.5% to $17.9 billion in the third quarter, the 11th consecutive quarterly increase. Investment in institutional construction accounted for much of the increase, up 2.4% to $4.5 billion. Industrial construction investment edged up 0.2% to $3.7 billion, while commercial investment decreased 0.3% to $9.8 billion.

Go HERE for more information

Related Articles


Latest Articles

  • Industrial Wiring Devices: A Brief Intro and How to Choose Them

    Industrial Wiring Devices: A Brief Intro and How to Choose Them

    June 9, 2025 Introduction: With the multitude of options on the market, it can be difficult to decide whether you need a pin and sleeve wiring device or a plug and connector in your industrial plant or facility. You might find your head swirling with thoughts about which option is best. Or you may not… Read More…

  • Industry Leaders Head to Quebec to Strengthen Energy and Supply Chain Resilience

    Industry Leaders Head to Quebec to Strengthen Energy and Supply Chain Resilience

    June 9, 2025 By Electro-Federation Canada On June 3 and 4, a high-level delegation from Canada’s electrical and automation sector travelled to Montreal and Quebec City for a series of strategic meetings with Quebec government officials and key stakeholders. Organized by Electro-Federation Canada (EFC), this mission underscores the critical role the industry plays in advancing… Read More…

  • Electrifying Connections: A Celebration of Legacy, A Vision for the Future

    Electrifying Connections: A Celebration of Legacy, A Vision for the Future

    June 9, 2025 By Electro-Federation Canada This year’s Annual Industry Conference, held against the breathtaking backdrop of Niagara Falls, Ontario, was a landmark event with more than 710 Electro-Federation Canada community members. More than just a celebration of our shared history, it was a launchpad for new ideas, future-based dialogue, and deeper connections.   The energy and… Read More…

  • Code Quiz: Canadian Electrical Code, Part 1, 26th Edition Section 28 – Motors and Generators

    Code Quiz: Canadian Electrical Code, Part 1, 26th Edition Section 28 – Motors and Generators

    by William (Bill) Burr Question:  Adam is working in his garage cutting wood on his table saw. Suddenly the lights go out and the sump pump and the table saw stop running. There is obviously a power outage. After a short time, the lights and the sump pump come back on, but thetable saw stays off. Adam needs to restart it.  Can you explain why the lights and sump pump come back on… Read More…


Changing Scene

  • Andrey Goreev Joins Mersen Electrical Power as Regional Sales Manager

    Andrey Goreev Joins Mersen Electrical Power as Regional Sales Manager

    June 9, 2025 MERSEN CANADA TORONTO INC. is pleased to announce effective June 2nd, 2025, Andrey Goreev has joined Mersen Electrical Power as Regional Sales Manager for the Western Canada Region. He will report to Tom Arbanas, Vice President of Distribution Sales and Customer Care, Canada. Andrey has over 18 years of experience in industrial… Read More…

  • Electric Avenue Powers Ahead with Major Win and New Flagship Product: Watti Pro Echo

    Electric Avenue Powers Ahead with Major Win and New Flagship Product: Watti Pro Echo

    June 9, 2025 In an industry dominated by global giants, a startup from Canada’s East Coast is quickly becoming one of the most compelling cleantech success stories in the country. Electric Avenue, a Nova Scotia–based EV charging manufacturer, is making waves in the North American market with the official launch of its Watti Pro Echo… Read More…

  • Manitoba and BC Establish Free Trade Agreements

    June 9, 2025 The Manitoba government will sign a new memorandum of understanding with British Columbia to advance free trade between the two provinces and cabinet will pass regulations by July 1 to ensure mutual recognition of other provinces by Canada Day, Premier Wab Kinew announced today at the MBiz Breakfast Series hosted by the… Read More…

  • Nova Scotia Removing Trade Barriers With Other Provinces, Federal Government

    Nova Scotia Removing Trade Barriers With Other Provinces, Federal Government

    June 9, 2025 Trade barriers between Nova Scotia, several provinces and the federal government will soon be removed. Nova Scotia, along with Alberta, British Columbia, Manitoba, Ontario and Prince Edward Island have taken action to remove barriers and red tape that will open up new trade and investment opportunities. It is also anticipated that the… Read More…