Investment in homebuilding increased in the latest stats

by Steve Randall25 Feb 2020

Canada’s construction sector saw increased investment in December 2019, the latest month of data released by Statistics Canada.

Both the residential and non-residential sectors increased investment to a total of $15.6 billion, up 0.5% month-over-month. Year-over-year, construction investment was up 3.4% in 2019 to $181.8 billion.

For the residential sector, investment in December was up in 5 provinces, led by Ontario (+2.0% to $4.5 billion) and Alberta (+3.2% to $1.1 billion).

However, the investment in homebuilding was focused on multifamily units, which gained 2.8% nationally to $5.5 billion, thanks largely to Ontario with a 7.2% gain to $2.3 billion.

The single-family sector saw a national decline of 2.3% to $5.1 billion with decreases in every province except for Alberta.

Non-residential

For the non-residential sector, construction investment was driven by gains in Quebec, Ontario and Manitoba. Alberta declined for the sixth consecutive month, down 1.2% to $695.5 million.

Institutional investment rose 1.1% month-over-month in December to $1.1 billion while industrial totaled $923 million (up 1.6%), and commercial totaled $2.9 billion with a 0.3% increase. 

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