Canada's investment in building construction rose 3.4% to C$19.1B in January, gains reported in all components; residential investment increased 4.1%, with single-family homes up 2.5%, multifamily up 6.0%: Statistics Canada

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OTTAWA , March 14, 2022 (press release) –

Investment in building construction increased 3.4% to $19.1 billion in January, with gains posted in all components. Following a slight pullback in the summer of 2021, there have been steady investment increases since October 2021.

On a constant dollar basis (2012=100), investment in building construction increased 4.0% to $12.1 billion.

Chart 1: Investment in building construction, seasonally adjusted

Residential sector up for a fourth consecutive month
Residential construction investment rose 4.1% to $14.1 billion in January, a fourth consecutive monthly increase. The gains reflected high levels of construction intentions in the fourth quarter of 2021.

Investment in single-family homes was up 2.5% to $7.6 billion, with Quebec and British Columbia behind much of the national gain.

Multi-unit construction investment increased 6.0% to $6.5 billion. Saskatchewan was the only province to post a decrease due to a combination of maturing projects and a lower level of new permits.

Infographic 1: Investment in residential building construction, January 2022

Chart 2: Investment in residential building construction, seasonally adjusted

Commercial investment drives non-residential sector
Commercial investment posted its seventh consecutive monthly increase (+1.8% to $2.8 billion) in January, led by Ontario (+2.2%) and British Columbia (+5.0%). The commercial component showed sustained growth over the past few months, particularly for office buildings and warehouses.

Investment in the institutional component advanced 0.6% to $1.4 billion in January. Quebec (+3.1%) posted the largest gain, helping to offset declines reported in seven provinces.

Industrial construction investment rose 2.1% to $864 million, the largest monthly increase since mid-2020.

Overall, non-residential construction investment increased 1.5% in January, reaching the $5.0 billion mark for the first time since June 2020.

Infographic 2: Investment in non-residential building construction, January 2022

For more information on housing, please visit the Housing statistics portal.

Note to readers
Unadjusted data for the current reference month are subject to revision based on late responses. Data for the previous month have been revised. Seasonally adjusted data for the previous three months have also been revised.

Data presented in this release are seasonally adjusted with current dollar values unless otherwise stated. Using seasonally adjusted data allows month-to-month and quarter-to-quarter comparisons by removing the effects of seasonal variations. For information on seasonal adjustment, see Seasonally adjusted data – Frequently asked questions.

Monthly estimates in constant dollars are calculated using quarterly deflators from the Building Construction Price Index (table 18-10-0135-01). Typically, the first two months of a quarter use the previous quarter's price level, and the data are revised when the new quarterly price index becomes available.

Detailed data on investment activity by type of building and type of work are now available in the unadjusted current dollar series.

Next release
Data on investment in building construction for February will be released on April 13.

Products
Statistics Canada has a Housing Market Indicators dashboard. This web application provides access to key housing market indicators for Canada, by province and by census metropolitan area. These indicators are automatically updated with new information from monthly releases, giving users access to the latest data.

Contact information
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).

 

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