May 19, 2022
Investment in building construction increased by 1.8% to $20.3 billion in March. Gains were reported in both the residential (+1.7%) and the non-residential (+2.0%) sectors.
On a constant dollar basis (2012=100), investment in building construction increased 1.0% to $12.3 billion.
Single-unit construction continues to drive residential sector
Residential construction investment in March rose for a sixth consecutive month, up 1.7% to $15.1 billion. Ontario contributed about three-quarters of the monthly increase, bringing the national total to just below the record high reached in April 2021.
Investment in single family homes increased 4.3% to $8.4 billion, with Ontario (+6.2%) leading the gains.
Multi-unit construction investment decreased 1.4% to $6.7 billion in March. This ended five months of consecutive growth for the component, as declines in six provinces more than offset the strong gains reported in British Columbia (+3.8%).
Non-residential investment continues to show strength
Investment in the non-residential construction sector was up 2.0% in March compared with February, a ninth consecutive monthly increase. Quebec accounted for more than half of the gain in March.
Commercial investment gained 2.4% to $2.9 billion. All provinces reported growth, led by Quebec (+6.7%). A retail development in Mount Royal, Quebec was the largest contributor to the increase in this component.
Source: Statistics Canada
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