Saturday, April 20, 2024 
Saturday, April 20, 2024
November 22, 2019
Statistics Canada reports that total investment in building construction rose 1.0% from August to $15.6 billion in September. Investment was up for both the residential (+1.2% to $10.8 billion) and non-residential (+0.4% to $4.9 billion) sectors. On a constant dollar basis (2012=100), investment in building construction rose 0.7% to $12.9 billion. Total investment grew 2.4% from the second to the third quarter.
For more information on housing, please visit the Housing Statistics Portal.
Investment in the residential sector was up in five provinces in September, led by Ontario (+$89.4 million) and Quebec (+$43.3 million). Nationally, investment in the single (+1.4% to $5.4 billion) and multi-unit (+1.1% to $5.3 billion) dwellings increased compared with August. In Ontario, investment in multi-unit dwellings rose for the fourth consecutive month, up 1.9% in September to $2.1 billion.
Investment in the non-residential sector edged up 0.4% to $4.9 billion in September. The commercial component increased 0.7% to $2.8 billion, with Quebec posting the largest increase (+$11.2 million) due to ongoing developments in the eco-neighborhood of Estimauville in the city of Québec. Nationally, the industrial and institutional components were largely unchanged.
Total investment in building construction grew 2.4% from the second quarter to $46.4 billion in the third quarter, driven by increased investment in single homes in Ontario (+10.4%).
Investment was up in every component of the non-residential sector in the third quarter with the largest increase in British Columbia (+5.5%).
On an unadjusted basis, quarterly investment in non-residential new construction rose 11.5% year over year to $7.0 billion in the third quarter, reflecting gains in the commercial component (+19.5% to $3.9 billion).
Investment in residential new construction was largely unchanged year over year at $16.6 billion in the third quarter. Lower investment in singles (-7.3%) and doubles (-2.0%) was offset by increases in row homes (+13.6%) and apartments (+5.2%).
