In 4Q 2016, total investment in residential construction in Canada rose 5.6 per cent from the same quarter of 2015 to $31.4 billion, reflecting increased spending on every component except cottages, said Statistics Canada Thursday.
Higher investment in single-family dwellings, up 11.5 per cent to $7.3 billion, accounted for nearly half of the increase at the national level. Rising renovation spending (+3.4 per cent to $13.3 billion) and acquisition costs related to new dwellings (+6.9 per cent to $3.6 billion) also contributed to the gain.
Canada Residential Construction Spending
Residential construction investment in Canada in- creased year over year in seven prov- inces in 4Q, led by British Columbia, Ontario and Quebec.