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Multi-unit construction investment numbers on the increase: StatsCan
June 20, 2022 By Don Horne
The latest numbers from Statistics Canada show investment in building construction across Canada increased by 2.7 per cent to $20.9 billion in April, as gains were realized in both the residential (+3.2 per cent) and the non-residential sectors (+1.4 per cent).
Housing construction investment saw increases for a seventh consecutive month in April reaching $15.7 billion. British Columbia (+8.3 per cent) led the way reaching a record high.
The investment in single family homes across the country increased 4.5 per cent to $8.8 billion, with gains in seven provinces. The steepest decline in single family home investment was reported in Saskatchewan (-12.5 per cent), after the province had experienced growth in six of the seven previous months.
Multi-unit construction investment nationwide advanced 1.5 per cent 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 per cent advance in April.
Investment in industrial construction led the way, increasing 1.7 per cent to $931 million, with Ontario accounting for most of the net growth.
Commercial investment advanced 1.5 per cent to $2.9 billion, with nine provinces reporting growth.
And institutional construction investment rose one per cent to $1.4 billion, its fourth consecutive monthly advance.
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