Building construction investment jumps in October after several losses

Ontario Construction News staff writer

After several months of losses, investment in building construction increased by 1.6 percent to $17.8 billion across Canada, according to the latest Statistics Canada report.

In October, the Canadian residential sector increased by 1.4 percent to $12.9 billion. Quebec (+3.3 percent) and Saskatchewan (+16.7 percent) recorded the larges increases.

Investment in single-family homes also increased – by 0.6 percent to $7.0 billion, despite a 2.2 per cent drop in Ontario.

ICI building permits up in all sectors: Stats Can

Also, multi-unit construction jumped 2.4 per cent across the country, to $5.9 billion, with Ontario and Quebec leading the way.

Non-residential construction increased by two per cent to $4.9 billion—the highest value since July 2020 and commercial investment rose 2.6 percent to $2.7 billion.

Finally, the institutional sector also recorded an increase – 1.3 percent to $1.4 billion and industrial construction jumped 1.4 percent.


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