Investment in housing construction breaks streak, falling for first time in nine months: StatCan

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Investment in housing construction breaks its streak, falling for first time in nine months, nationally. But, investment in single-family homes rose from May to June.

The agency says residential construction investment fell 0.4 per cent to $15.5 billion in June, with Quebec being the biggest drag where investment in housing construction fell 6.7 per cent from May to June.Nationally, multi-unit construction investment also slumped in June, dropping 1.6 per cent. “Despite this decrease, investment in multi-unit construction has shown an overall upward trend since October 2021,” Statistics Canada said in its report.

Within the residential segment, investment in single-family homes continued to show strength, rising 0.7 per cent to $8.6 billion, having outpaced multi-unit construction since the COVID-19 pandemic downturn.Article content The provinces and territories where residential construction investment increased from May to June, were B.C., Saskatchewan, Ontario, New Brunswick, Nova Scotia, and Nunavut.

In Ontario, residential construction investment was up 0.9 per cent to $6.3 billion for June. It rose 2.4 per cent in B.C. to $2.6 billion.

 

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