Investment in new housing construction in Canada rose 7.2 per cent from June 2016 to $4.7 billion in June, said Statistics Canada Tuesday. The increase was mostly attributable to higher investment in single family dwellings (+$257.9 million).
All but one province saw an increase in new housing investment in June 2017. The largest increase was in Quebec (+$82.6 million), followed by Alberta (+$72.5 mil- lion) and British Columbia (+$57.4 million). Newfoundland and Labrador posted a decrease of $7.4 million (-26.2%) compared to June 2016.
Investment in New Housing Construction, Canada
Quebec’s $82.6 million year-over-year increase was mostly a result of investments in apartments, accounting for 53 per cent of the total gain in this province. Alberta posted an increase of $96.3 million of investment in single homes compared to June 2016, offsetting the decrease of $32.3 million of investment in apartments.
In British Columbia, investment in new housing construction surpassed the $1 billion mark for the second month in 2017, up 6 per cent year over year. This increase was the result of higher investment in all dwelling types, except for double homes.