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Canadian new residential construction spending up 8.4 percent year-on-year

Tuesday, 21 June 2016 00:03:36 (GMT+3)   |   San Diego
       
According to Statistics Canada, spending on new residential construction totaled $4.2 billion in April, up 8.4 percent from the same month a year earlier.

Nationally, the increase was driven by higher investment in apartment and apartment-condominium buildings, which rose 20.8 percent to $1.5 billion. Higher spending on row houses (up 14.2 percent to $433 million) and single-family dwellings (up 2.1 percent to $2.1 billion) also contributed to the advance.

In contrast, investment in semi-detached dwellings declined year over year for the 12th consecutive month, down 14.7 percent to $195 million in April.

At the provincial level, advances in new housing construction spending were recorded in five provinces, led by Ontario, followed by British Columbia and Quebec. Spending on new housing construction decreased in five provinces in April, with Alberta registering the largest decline, followed by Saskatchewan and Manitoba.

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