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Oct. 19, 2022

Building Construction Investment Increases

Investment in building construction increased 0.4 per cent to $21.1 billion in August, with most of the gains coming from British Columbia, says Statistics Canada. The residential sector rose 0.5 per cent to $15.7 billion, while the non-residential sector declined 0.2 per cent to $5.3 billion. On a constant dollar basis (2012=100), investment in building construction decreased 0.2 per cent to $12.7 billion. Investment in residential building construction was up 0.5 per cent to $15.8 billion in August, led by British Columbia which saw growth of five per cent. Single-family home investment rose 0.6 per cent to $8.6 billion and has remained relatively stable over the last six months. Multi-unit construction investment for the month increased 0.5 per cent to $7.2 billion, with British Columbia gaining 10.6 per cent. Multiple new apartment projects spanning across Vancouver helped contribute to the growth. Investment in non-residential construction edged down 0.2 per cent to $5.3 billion.

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