Investment in multifamily construction reaches new heights
The residential construction sector led the gains for overall Canadian construction investment in April, the latest month of figures released by Statistics Canada.
The 3.6% increase for the residential sector took investment to $10.6 billion for the month, while the non-residential sector gained 0.3% to $4.7 billion. The total investment in Canadian construction was up 2.6% to $14.8 billion.
Within the gains for residential construction investment, the multi-unit dwellings sector hit new highs in April with a 7.1% increase to $5.6 billion. The single-family homes sector gained 0.3% to $5.0 billion.
Provincially, gains in multi-unit investment were led by British Columbia (+$205 million), Manitoba (+$94 million) and Quebec (+$75 million).
Meanwhile, non-residential investment was up slightly in Quebec (+$19 million) and British Columbia (+$16 million). These gains were partially offset by declines in Alberta (-$11 million) and Ontario (-$11 million).
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