Building construction investment in Canada rises by 2.7% in October

Posted on December 26, 2023   |  

Investment in Canadian building construction grew by 2.7% to $19.4 billion (CAD) in October. When considering constant dollars (2012=100), the growth was 2.4%, totaling $11.0 billion.

Residential building construction investment showed a notable 3.9% month-over-month rise, reaching $13.4 billion. 

8 out of 10 provinces reported increases and investment in single-family detached homes grew by 3.1% to $6.5 billion.

Investments in multi-units (apartments, semi-detached, and row homes) increased by 4.6% to $6.9 billion.

Investment in the non-residential sector remained relatively stable month-over-month, staying at $6.0 billion in October. 

The industrial sector saw a 1.0% gain, reaching $1.2 billion, and institutional investment increased by 0.7% to $1.6 billion. 

However, these gains were offset by a decline in commercial investment, down 0.7% to $3.2 billion.