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News » Canada » Alberta leads increases in house construction » published 22 Nov 2017

Alberta leads increases in house construction

Investment in the construction of new houses in Canada totalled CA$5.5bn in September, up 8.9% on the same month in 2016.

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Increases in new housing investment were reported in eight provinces, with the largest gains in Alberta (up CA$154.3m), Ontario (up CA$126.5m) and Quebec (up CA$102.4m), according to the latest figures from Statistics Canada.

At the national level, the CA$2.2bn investment in housing in Ontario accounted for 40.7% of the country’s total, followed by British Columbia (20.7%), Alberta and Quebec (both at 15.1%). Quebec and New Brunswick were the only provinces that posted a year-over-year investment increase for all building types.

Investment in new housing construction was driven mainly by a CA$268.6m increase in spending on single-family homes compared with September 2016. Investment in this component rose in eight provinces, led by Alberta with an increase of CA$132.4m.

Apartment building investment rose CA$38.0m (+2.1%) compared with September 2016. Spending on apartment buildings was up in six provinces, led by Quebec (up CA$74.9m). On the other hand, Ontario showed a decrease of CA$31.7m, representing the seventh consecutive month with a decline on a year-over-year basis.

Investment in row unit construction rose 21.4% compared with September 2016, to CA$587.7m. Seven provinces reported increased investment in this category, led by Ontario (up CA$82.8m). The CA$103.6m increase in row units accounted for nearly one-quarter of the total gain in new housing construction spending, despite only representing about 10% of total investment for all types of building.

 

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This article was published on 22 Nov 2017 (last updated on 22 Nov 2017).

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