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Investment in multifamily construction reaches new heights
6/24/2019 | Posted in Canadian Housing Market by Paul DeAdder | Back to Main Blog Page
The residential construction sector led the gains for overall Canadian construction investment in April, the latest month of figures released by Statistics Canada.
The 3.6% increase for the residential sector took investment to $10.6 billion for the month, while the non-residential sector gained 0.3% to $4.7 billion. The total investment in Canadian construction was up 2.6% to $14.8 billion.
Within the gains for residential construction investment, the multi-unit dwellings sector hit new highs in April with a 7.1% increase to $5.6 billion. The single-family homes sector gained 0.3% to $5.0 billion.
Provincially, gains in multi-unit investment were led by British Columbia (+$205 million), Manitoba (+$94 million) and Quebec (+$75 million).
Meanwhile, non-residential investment was up slightly in Quebec (+$19 million) and British Columbia (+$16 million). These gains were partially offset by declines in Alberta (-$11 million) and Ontario (-$11 million).
