Respectable gains were registered in both the residential and non-residential segments
Investment in building construction nationwide increased by 2.7% annually to reach $20.9 billion in April, according to Statistics Canada.
The residential construction segment saw its seventh consecutive month of increases, posting a 3.2% gain to reach $15.7 billion in April – an upswing largely propelled by intensified starts activity in British Columbia (up by 8.3%).
Single-family home construction investment went up by 4.5% to $8.8 billion, with growth registered in seven provinces. These gains more than compensated for Saskatchewan, which saw the largest decrease in investment (down by 12.5%) in April.
Multi-unit construction investment increased by 1.5% to $6.9 billion, with British Columbia accounting for much of this growth, StatCan said.
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Investment in non-residential construction increased for the ninth straight month, with a 1.4% gain in April impelled by strengthened activity in seven provinces.
Industrial construction investment grew by 1.7% to $931 million, with Ontario accounting for most of the net growth. Commercial investment increased by 1.5% to $2.9 billion, with a major retail project in Vancouver accounting for a significant portion of this upswing.
Institutional investment saw its fourth straight month of gains with a 1% increase to $1.4 billion.
“Growth was led by Quebec, with a federal building in Shawinigan designed for the Canada Revenue Agency and Employment and Social Development Canada,” StatCan reported.
