BC spent $722 million on new housing construction in September 2014, an 11.9 per cent rise compared with September 2013, according to Statistics Canada data released November 20.
As has been the trend in recent months, BC’s increase was much higher than the year-over-year increase in new home building across the whole of Canada, which in September rose 5.5 per cent to total $4.55billion in investment.
BC’s was the fourth biggest annual rise of all provinces and territories, with Nunavut seeing an increase in home building investment of 33 per cent year over year, Alberta posting a 20.7 per cent investment increase and Yukon boosting spend by 16.6 per cent.
As in previous months, BC’s investment was led by another rise in townhome construction, which posted an 18 per cent year-over-year increase.
Having risen just 0.8 per cent last month, duplexes got an injection of investment in September, with a rise of 17.3 per cent year over year.
Investment in single-family home construction in BC rose 15.5 per cent and condos rose 6.1 per cent year over year.
Nationwide, townhome investment rose 14.9 per cent, single-family homes rose 5.5 per cent, duplexes rose 5.2 per cent and condo investment increased 2.8 per cent.
To see the interactive table, with statistics broken down by province, housing type and dates, click here.
