Statistics Canada released its monthly numbers for investment in building construction, from January 2020 through to February 2024.
Residential and Non-Residential Construction
The investment dollars in both residential and non-residential construction generally increased from January 2020. Starting at approximately $14.2 billion in January 2020, there were peaks around mid-2021 and mid-2022, reaching over $24 billion in some months, and $17.1 billion as of February 2024.
Residential construction investments grew from $9.1 billion to 11.2 billion in February 2024. Both single dwelling and multiple dwelling construction investments experienced summer/mid-year peaks, especially in 2022.
Single Dwelling Building Total
Investments in single-dwelling buildings rose overall from around $4.2 billion in January 2020 to about $5.2 billion in February 2024.
Multiple Dwelling Building Total
The investment in multiple dwelling buildings started at approximately $5 billion in January 2020, and increased to roughly $6 billion in February 2024.
Non-residential investments, encompassing industrial, commercial, and institutional or governmental buildings, demonstrated a relatively stable but gradually increasing trend. The total non-residential investment dollars started at about $5.1 billion in January 2020 and, by February 2024, reached around $6.2 billion.
Industrial
Investments in industrial buildings showed a gradual increase from approximately $929 million in January 2020 to around $1.3 billion by early 2024.
Commercial
Commercial investments stayed fairly stagnant, recovering from a dip in early 2020, but staying stable overall from just over $3 billion in January 2020 to just under $3 billion in February 2024.
Institutional and Governmental
Investment in institutional and governmental buildings showed an upward trend. Starting at about $1.1 billion in January 2020, investments in this category increased to reach around $1.6 billion in early 2024.
As part of its response to Canada’s ongoing housing challenges, the federal government has added another 12 new properties to the Canada Public Land Bank,...
As part of its response to Canada’s ongoing housing challenges, the federal government has added another 12 new properties to the Canada Public Land Bank,...
