Ottawa, ON — In March, the total value of investment in building construction fell by 1.3 per cent ($304.6 million) to $22,6 billion, reports Statistics Canada. Declines were seen in the residential sector, while the non-residential sector saw an increase.
Investment in residential building construction dropped by 2.2 per cent ($345.4 million) to $15.5 billion in March. Declines were seen in both the multi-unit (down 2.3 per cent) and single-family (down 2.1 per cent) components.
Investment in multi-unit construction was down $195.5 million to $8.4 billion in March, marking the third consecutive monthly decrease. Ontario (down $152.2 million) drove the decline, with Alberta (down $59.0 million) and British Columbia (down $43.7 million) also contributing.
Investment in single-family home construction was down $149.9 million to $7.2 billion in March. Ontario (down $119.5 million) led the decline, with broad declines across seven other provinces and one territory.
However, the total value of non-residential investment in building construction rose by 0.6 per cent ($40.8 million) to $7.0 billion. Gains were seen in the industrial (up 3.3 per cent) and commercial component (up 0.1 per cent, while the institutional component saw a decline (down 0.3 per cent).
Industrial construction investment increased $42.5 million to $1.3 billion in March, led by British Columbia, up $52.2 million. Investment in the commercial component edged up $4.4 million to $3.6 billion in March, led by Alberta (up $9.7 million) and British Columbia (up $3 million).
Meanwhile, investment in the institutional component edged down $6.1 million to $2.1 billion in March. Declines were led by Quebec (down $9.3 million) and Ontario (down $2 million).