Quebec leads gains in residential building

by Gerv Tacadena24 Mar 2020

The substantial gains in Quebec's residential-building investment managed to offset the declines in other provinces, preventing the sector from reporting a decline in January, the latest figures from Statistics Canada show.

Over the month, residential investments in Quebec rose by 5.5% to $2.3bn. The province led the gains recorded in single-unit and multi-unit dwellings.

Investments in housing construction in British Columbia and Nova Scotia also increased, up by 0.1% to $1.9bn and by 0.6% to $224m, respectively.

Also read: Ontario, Quebec lead gains in housing starts

The increases in the three provinces offset the declines reported in seven others.

In the non-residential segment, investments were up in the commercial, institutional, and industrial components. Quebec also registered strong growth in the non-residential segment, with investments hitting a growth rate of 5.1% to $1.1bn.

The commercial component contributed the largest in the non-residential construction growth. It reported a 1.8% gain to $3bn.

Marginal growth was recorded in the institutional and industrial sectors, up by 0.9% to $1.2bn and 0.8% to $928.3m, respectively.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Thanks for Subscribe to our News letter

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release

Poll

Do you invest in commercial properties?