Spending on new residential construction in Alberta declined by $2.4 million in April. CREB®Now file photo
June 24, 2016 | Cody Stuart
New housing construction down in Alberta
Provincial decline led the country
Spending on new residential construction in Alberta totalled $738.3 million in April, down from the $1.025 billion seen the previous April, according to the latest numbers from Statistics Canada.
The 28 per cent decline was the largest fall of any of the provinces, with decreased investment occurring in all dwelling types – although the decline was mainly due to lower spending on single-family dwellings.
In total, spending on new housing construction decreased in five provinces in April. Alberta was followed by Saskatchewan and Manitoba.
Nationally, spending on new residential construction totalled $4.2 billion in April, up 8.4 per cent from the same month a year earlier.
The increase was driven by higher investment in apartment and apartment-condominium buildings, which rose 20.8 per cent to $1.5 billion. Higher spending on row houses (up 14.2 per cent to $433 million) and single-family dwellings (up 2.1 per cent to $2.1 billion) also contributed to the advance.
In contrast, investment in semi-detached dwellings declined year over year for the 12th consecutive month, down 14.7 per cent to $195 million in April.
At the provincial level, advances in new housing construction spending were recorded in five provinces, led by Ontario, British Columbia and Quebec.
In Ontario, investment in new residential construction increased 32.7 per cent year over year to $1.7 billion in April, largely the result of higher investment in single-family homes.
In B.C., spending on new housing construction rose 28.3 per cent year over year to $945 million in April. Higher investment in apartment and apartment-condominium buildings contributed the most to the gain, followed by single-family dwellings and row houses. Investment in semi-detached dwellings declined for the 10th consecutive month.
apartments | Calgary Real Estate | Calgary Real Estate News | Condos | construction | Investment Properties | New home | semi detached | Statistics Canada | Uncategorized | YYCRE