Issue 19-182 Building Investment
November 22, 2019
Total investment in building construction in B.C. continued to ease in September, decreasing 0.6% (seasonally adjusted) to $2.6 billion.
Investment in non-residential building construction in the province was slightly higher than in August (+0.7% to $793 million). Spending on new buildings was up in the commercial (+1.7%) sector, offsetting declines in investment for new institutional (-0.7%) and industrial (-2.0%) projects.
Nationally, non-residential construction expenditures inched up 0.4%.
On the residential side, investment in B.C. slipped 1.1% (seasonally adjusted) in September. This marked the fourth consecutive monthly decrease in investment in residential structures. September’s decline was due mostly to a slowdown in spending on new single-detached homes (-2.8% to $686 million) as investment in multiple dwellings (including doubles, row homes, and condo and rental apartments) was down just 0.1% (to $1.2 billion).
Nationally, a 1.2% increase in total residential investment in September was driven by gains in Ontario and Quebec.
Data Source: Statistics Canada