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News » Canada » Ontario leads rise in new housing construction » published 24 Jul 2017

Ontario leads rise in new housing construction

New housing construction rose 4.1% in the year to May 2017, with Ontario accounting for much of the rise.

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The latest findings from Statistics Canada show that investment totalled CA$4.4bn in May; the increase was mostly explained by higher investment in Ontario and, to a lesser extent, in British Columbia and Manitoba. Of the four provinces that posted a decline, Quebec's decrease was the largest.

The 11.2% drop in Quebec was due primarily to a strike in the construction industry in the last week of the month. All types of housing construction declined in this province except row housing, which saw a slight increase.

In Ontario, new housing construction investment totalled CA$1.8bn in May, a 7.1% year-over-year increase. This gain was largely attributable to higher spending on single-family dwellings (+CA$81.5m). However, apartment construction spending in the province fell by CA$14.4m.

Spending in British Columbia totalled CA$995m, up 7.3% year over year. This increase was attributable to higher construction investment in apartments (+CA$69.2m) and, to a lesser extent, row houses (+CA$7.1m).

In Manitoba, new housing construction investment rose 36.9% year over year to CA$144.6m. This growth was led by higher investment in single-family dwellings. Manitoba was the lone province to post increases for all types of dwellings.

Nationally, construction spending increased for all types of dwellings. Increased investment in single-family dwellings (+CA$77.6m) accounted for 44.6% of the national gain.

Higher investment in apartment buildings was still mostly attributable to spending in British Columbia. The largest decreases for this type of dwelling were in Alberta and Ontario.

 

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This article was published on 24 Jul 2017 (last updated on 24 Jul 2017).

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