According to Statistics Canada, investment in new housing construction increased 9.5 percent from February 2017 to $4.5 billion in February 2018.
The year-over-year increase was led by spending on multiple-unit construction (apartment buildings, row houses and semi-detached houses), while spending on single-family homes was down compared with February 2017.
February marked the fourth consecutive month that the year-over-year increase in spending on apartment building construction outpaced spending on single houses. Apartment building construction rose in eight provinces, led by Quebec (+$182.4 million), Ontario (+$80.3 million) and British Columbia (+$74.3 million).
Spending on row house construction increased 24.1 percent (+$97.7 million) compared with February 2017, mainly driven by investment in Ontario (+$50.8 million), Alberta (+$23.0 million) and British Columbia (+$18.6 million).
Investment in semi-detached houses rose by 16.6 percent (+$29.4 million) in February compared with the same month in 2017, led by additional investment in Ontario (+$23.4 million).
Spending on single homes in February declined 3.8 percent (-$80.9 million) year over year. The decrease was mostly due to lower spending in Ontario, down 12.1 percent (-$121.9 million).