Statistics Canada reports that investment in building construction surged 4.5% to $20.4 billion in March. This growth was driven by a 5.4% increase in the residential sector, reaching $14.3 billion, and a 2.3% rise in the non-residential sector, totaling $6.1 billion.

In constant dollar terms (2017=100), building construction investment rose 4.1% to $12.5 billion. Residential building investment saw a 5.4% increase, with notable gains in Ontario (+6.5%; +$344.2 million) and Quebec (+9.2%; +$232.1 million).

Nationally, investment in detached single-family homes climbed 6.5% to $7.3 billion, marking the eighth consecutive month of growth. Multi-unit residential investment also increased, up 4.4% to $7.0 billion. Ontario (+7.2%; +$190.6 million) and British Columbia (+9.4%; +$129.1 million) led the gains, despite minor declines in provinces like Alberta (-2.2%; -$19.4 million) and Manitoba (-6.5%; -$12.7 million).

Non-residential sector investment rose 2.3% to $6.1 billion, with industrial investment up 3.1% to $1.3 billion and commercial investment rebounding by 2.0% to $3.0 billion after eight months of declines. Institutional investment hit a record high of $1.8 billion, increasing for the ninth consecutive month.

For the third straight quarter, overall building construction investment increased, rising 1.0% to $59.7 billion. Residential building construction permits grew 1.4% to $41.6 billion in Q1, driven by a 6.2% rise in single-family home investments, offsetting a 3.0% decline in multi-unit investments.

Non-residential sector investment edged up 0.2% to $18.1 billion in Q1, with growth in institutional (+7.2%; +$350.8 million) and industrial (+2.0%; +$76.5 million) components, despite a 4.1% decrease in commercial investments. Eleven provinces and territories reported a decline in commercial construction intentions.

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