Investment in residential building down $9.4 billion in November

by Steve Randall28 Jan 2019

There was decline in investment in building construction in November 2018 compared to the previous month.

Figures from Statistics Canada show a 2% decline to $13.7 billion with residential down 2.2% to $9.4 billion and non-residential down 1.6% to $4.3 billion.

The largest declines for residential were in Alberta (down $152 million), Ontario (down $72 million), and Quebec (down $56 million); while there was a gain of $81 million in British Columbia.

Single dwelling construction saw a 2% decline in investment to $4.9 billion while multi dwellings (including doubles, row homes and apartments) declined 2.5% to $4.5 billion.

By work type, construction of new single buildings was down 18.5% year-over-year to $1.9 billion in November, while there was an increase in multi dwellings of 11.1% to $3 billion.

Investment in renovations for single dwellings declined 2.5% to $3.3 billion year-over-year, while investment in renovations for multiple dwellings fell 21.5% to $1.6 billion.

For non-residential buildings, investment was down in eight provinces while Newfoundland and Labrador (+6.0% to $51 million) and British Columbia (+0.3% to $571 million) reported increases.

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