Q3 Residential Construction Up 9.1% YOY

Economy

December 18, 2017

Investment in residential construction totalled $35.8 billion in the third quarter, up 9.1% compared with the same period in 2016 and the largest increase since the fourth quarter of 2012.

For the first time in five years, residential construction investment rose on a year-over-year basis in every province. Ontario, Quebec and Alberta posted the highest increases in the third quarter.

Renovations up in all provinces

All components contributed to the year-over-year increase, led by spending on renovation, up 8.1% to $15.5 billion, followed by construction of single-family homes, up 11.0% to $8.4 billion.

Spending on renovation was up in every province for the first time since second quarter of 2006 and was the main driver for the increases in both Ontario (+$614.6 million) and Quebec (+$224.8 million).

Renovations drove the increases in every province except Alberta and Prince Edward Island, where spending was led by investment in new single houses. The $495.2 million increase in Alberta was mainly due to single-home construction (+$396.8 million), which accounted for 80.1% of the total year-over-year increase in the province.

Row house construction reaches a record high

At the national level, investment in row house construction reached a record high of $1.6 billion. In the third quarter, row houses represented over half of the total year-over-year increase for multi-unit building construction, despite accounting for just over one-fifth of total spending for multi-unit buildings.
Source: Statistics Canada, http://www.statcan.gc.ca/daily-quotidien/171204/dq171204a-eng.htm

Related Articles


Changing Scene

  • Electromate Certified as a Great Place to Work Once Again

    Electromate Certified as a Great Place to Work Once Again

    Electromate is proud to announce that it has again been certified as a Great Place to Work after a thorough, independent analysis conducted by the Great Place to Work Institute Canada. This certification is based on direct feedback from employees, as part of an extensive and anonymous survey about their workplace experience. The recognition highlights… Read More…

  • Gescan Announces Exciting ABB Motion Distribution Partnership

    Gescan Announces Exciting ABB Motion Distribution Partnership

    Recently, Gescan was excited and proud to announce its new strategic distribution partnership with ABB Motion in Manitoba and Saskatchewan. This collaboration brings together ABB’s drive technology and Gescan’s trusted distribution network, delivering more energy-efficient, high-performance motor control solutions to the Prairies. Read More…


Peers & Profiles