Statistics Canada reports that total investment in building construction increased by $442.9 million (+1.9%) to $23.7 billion in December, marking a 12.2% year-over-year gain. On a constant dollar basis (2023=100), investment rose 1.7% month over month to $21.8 billion, up 8.4% compared to December of the previous year.

The residential sector was the primary driver of December’s increase, rising 2.4% to $16.8 billion. Growth was fueled by both multi-unit and single-family construction.

Multi-unit residential investment climbed $234.1 million to $9.3 billion, led by Ontario (+$266.9 million) and Alberta (+$97.3 million). Declines in Quebec and Manitoba partially offset gains.

Single-family home construction rose $166.9 million to $7.5 billion, with Ontario and British Columbia contributing most of the increase.

Investment in non-residential building construction rose modestly by 0.6% to $6.9 billion in December.

Commercial construction increased 1.3% to $3.5 billion, driven by major projects in Alberta, Ontario, and British Columbia. Office building construction in Toronto and Vancouver census metropolitan areas led much of the growth.

Institutional construction edged up 0.2% to $2.1 billion, supported by gains in British Columbia and Alberta, though declines in Ontario and several other provinces moderated overall growth.

In contrast, industrial construction declined for the 11th consecutive month, falling 0.4% to $1.3 billion. Quebec, British Columbia, and Manitoba recorded the largest decreases.

In the fourth quarter, total building construction investment rose 2.1% to $69.4 billion. On a constant dollar basis, investment increased 1.3% to $63.9 billion.

Residential construction grew by $1.1 billion to $48.8 billion, largely driven by multi-unit development. Non-residential construction reached a new quarterly high of $20.6 billion, with gains in commercial and institutional components offsetting declines in industrial investment.

For 2025, total building construction investment increased 8.5% to $272.1 billion. Adjusted for inflation (2023 constant dollars), total investment reached $254.0 billion, up 4.8% annually.

Residential construction was the strongest contributor, rising $12.5 billion to $178.0 billion. Multi-unit housing accounted for most of the increase, climbing $11.2 billion to $98.4 billion, while single-family construction rose to $79.6 billion.

Non-residential investment declined slightly to $76.0 billion in 2025. Industrial construction fell 7.3%, led by Quebec and Ontario. Commercial investment dropped 2.1%, although Ontario and New Brunswick recorded gains. Institutional construction was the only non-residential component to post strong annual growth, rising 5.7% to $23.1 billion, with Alberta leading the increase.

Overall, Canada’s construction investment landscape in 2025 was defined by sustained residential growth—particularly multi-unit housing—while non-residential performance varied across sectors and regions.

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