Following the trend of recent months, BC residential construction investment was up 10.9 per cent year over year to almost $605 million in January, according to Statistics Canada data released March 20.
Across Canada as a whole, the growth in new housing investment was much more modest at 4.2 per cent year over year to $3.51 billion,with duplexes leading the growth, rising 10.7 per cent.
In BC it was also duplexes that saw the biggest increase in investment, up 25.2 per cent compared with January 2014, followed by row homes, which rose 20.6 per cent year over year.
Single-family home construction investment in the province was up 15.6 per cent, whereas condo construction increased a meagre 2.6 per cent.
BC’s figures were down 4.4 per cent month over month, however, as the winter took its usual toll on the industry. Only row homes, or townhouses, saw a month-over-month increase in construction investment, up 4.2 per cent.
To see Statistics Canada’s interactive chart, click here.
