Residential Continues To Lead Construction Gains

Total investment in building construction increased 6.3 per cent to $19.9 billion in April, with residential construction investment rising for a 12th consecutive month, says Statistics Canada. In contrast, non-residential construction has not fully returned to pre-COVID-19 levels. Still, it increased by 0.9 per cent in the month. Residential construction reported an 8.1 per cent gain, bringing total investment to $15.3 billion in April. Investment for single-family homes was up 8.9 per cent, as all provinces except Nova Scotia posted increases. Multi-unit construction rose 7.2 per cent to $6.7 billion in April. Quebec posted the largest increase. Non-residential construction investment advanced 0.9 per cent to $4.6 billion in April, continuing to post small gains for the fifth consecutive month. Investment in institutional construction was up 1.4 per cent to $1.2 billion and industrial construction investment was up 1.8 per cent to $847 million. Five provinces posted increases in commercial investment, edging up 0.3 per cent in April. Only Ontario and Prince Edward Island have exceeded pre-pandemic levels, with Prince Edward Island reaching a record high.