Investment in Building Construction Saw Growth in April
June 17, 2022 | By HPAC Magazine
The investment in single family homes across the country increased 4.5% to $8.8 billion, with gains in seven provinces.
(source: Statistics Canada)
The latest release from Statistics Canada reveals that investment in building construction across Canada increased by 2.7% to $20.9 billion in April, 2022. The gains were realized in both the residential (+3.2%) and the non-residential sectors (+1.4%).
Housing construction investment saw increases for a seventh consecutive month in April reaching $15.7 billion. British Columbia (+8.3%) led the way reaching a record high.
The investment in single family homes across the country increased 4.5% to $8.8 billion, with gains in seven provinces. The steepest decline in single family home investment was reported in Saskatchewan (-12.5%), after the province had experienced growth in six of the seven previous months.
Multi-unit construction investment nationwide advanced 1.5% to $6.9 billion.
Non-residential investment up for ninth straight month
Seven provinces posted positive growth in non-residential construction investment, leading to the overall 1.4% advance in April.
Investment in industrial construction led the way, increasing 1.7% to $931 million, with Ontario accounting for most of the net growth.
Commercial investment advanced 1.5% to $2.9 billion, with nine provinces reporting growth.
And institutional construction investment rose 1% to $1.4 billion, its fourth consecutive monthly advance.
