According to Statistics Canada, new housing construction investment totaled $4.7 billion in December, up 10.0 percent compared with December 2016. Investment in new housing construction rose in eight provinces, led by Quebec, Alberta and British Columbia.
Nationally, investment was up for all dwelling types from the same month a year earlier. The $246.3 million investment increase in apartment building construction was the largest contributor, representing almost 60 percent of the national increase (+$426.9 million) in December.
Nationally, investment in new housing construction totaled $57.3 billion in 2017, up 8.9 percent or $4.7 billion compared with 2016. This marked the largest annual increase since 2012, when investment in apartment building construction accounted for 54.9 percent of the total increase in new housing construction. In comparison, growth in spending in apartment building construction represented 16.4 percent of the total investment gains in 2017. Single home construction ($2.7 billion) led the total annual increase, followed by row home construction, which posted the second largest year-over-year total increase (+$839.7 million).