According to Statistics Canada, total investment in residential construction rose 2.8 percent year over year to $32.7 billion in the third quarter. This was the 11th consecutive year-over-year quarterly increase.
Higher spending on single-family dwellings, up 6.2 percent to $7.5 billion, and apartment buildings, up 6.7 percent to $5.0 billion, accounted for most of the growth at the national level. Investment in renovation work, spending on row house construction and acquisition costs also contributed to the quarterly advance.
Investment in residential construction increased in five provinces in the third quarter, led by Ontario and British Columbia, with Quebec a distant third.