Statistics Canada reports that total investment in building construction increased 2.6% in April to $14.8 billion. Investment in the residential sector (+3.6% to $10.1 billion) led the growth, while the non-residential sector edged up 0.3% to $4.7 billion. On a constant dollar basis (2012=100), investment in building construction rose 2.9% to $12.5 billion.
In April, total investment in residential building construction increased on the strength of investment in multi-unit dwellings (+7.1% to $5.1 billion), while investment in single-family homes edged up 0.3% to $5.0 billion.
Provincially, gains in multi-unit investment were led by British Columbia (+$205 million), Manitoba (+$94 million) and Quebec (+$75 million). The multi-unit increase in British Columbia was driven by investment in high-value projects like the mixed use Lougheed Town Centre project in the City of Burnaby.
Provincially, non-residential investment was up slightly in Quebec (+$19 million) and British Columbia (+$16 million). These gains were partially offset by declines in Alberta (-$11 million) and Ontario (-$11 million).
Of the three components in the non-residential sector, the institutional component posted the largest gain (+0.5% to $1.1 billion), due to projects such as the Greenfield Park Retirement Residence in Longueil, Quebec.
Investment in the commercial component edged up 0.3% to $2.7 billion in April, as the growth in British Columbia, Quebec and Manitoba was greater than the declines in Ontario and Alberta.
Investment in the industrial component edged up 0.1% from the previous month.
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