In: ConstructionNews

According to Statistics Canada, residential construction investment decreased 2.9% in August, with declines posted in every province except for a slight increase in Nova Scotia.

Investment in single family homes was down 2.6% to $7.0 billion, with Quebec, Ontario and British Columbia posting the largest declines. Despite a fourth consecutive monthly decrease, single unit construction was 25.6% higher than a year earlier.

Multi-unit construction investment declined in all provinces, down 3.3% nationally to $6.0 billion in August.

Investment in building construction, seasonally adjusted
Investment in building construction, seasonally adjusted (StatsCan)
Residential construction continues to slow following April peak

Residential construction investment decreased 2.9% in August, with declines posted in every province except for a slight increase in Nova Scotia.

Investment in single family homes was down 2.6% to $7.0 billion, with Quebec, Ontario and British Columbia posting the largest declines. Despite a fourth consecutive monthly decrease, single unit construction was 25.6% higher than a year earlier.

Multi-unit construction investment declined in all provinces, down 3.3% nationally to $6.0 billion in August.

Investment in residential building construction, seasonally adjusted
Investment in residential building construction, seasonally adjusted (StatsCan)
Institutional sector drives gains in non-residential construction

Non-residential construction investment rose 0.6% in August to $4.7 billion.

Institutional investment posted a 10th consecutive monthly increase (+1.8% to $1.3 billion), driven by gains in Ontario (+4.3%) and Quebec (+2.2%). This was the highest level of investment in institutional construction since March 2012.

Commercial investment was mostly unchanged in August (+0.1%), with gains in seven provinces offsetting the declines in Ontario (-0.5%), British Columbia (-1.3%) and Nova Scotia (-2.4%).

Industrial construction edged up 0.2% for the month, led by investment in Ontario.

 For more information on housing, visit Statistics Canada’s Housing Statistics Portal.

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