According to Statistics Canada, new housing construction investment totaled $4.6 billion in March, up 9.7 percent from March 2017. This increase was mainly attributable to higher construction investment in apartment buildings (+$333.2 million).
The increase in apartment building construction investment accounted for 81.7 percent of the total growth in new housing construction investment in Canada. In comparison, single-home construction accounted for 77.0 percent of the total increase in investment in March 2017.
Investment in new housing construction grew year over year in March for every building type except single-family houses, which fell by $23.5 million (-1.1 percent). This drop was mostly explained by lower spending on single-family house construction in Ontario (-$92.7 million).