BC spent $745 million on new housing construction in October 2014, a 10.9 per cent rise compared with October 2013, according to Statistics Canada data released December 22.
Broken down by property type, BC’s rise was led by huge surge in investment in townhome construction, which posted a 27.4 per cent year-over-year increase.
BC duplexes got a second consecutive injection of investment in October, with a rise of 18.8 per cent year over year.
Investment in single-family home construction in BC rose 13.3 per cent and condos rose 4.5 per cent year over year.
Continuing the trend of 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 October rose 5.1 per cent to total $4.47 billion in investment.
Nationwide, townhome investment rose 15.4 per cent, single-family homes rose 3.5 per cent, duplexes rose 7.2 per cent and condo investment increased 4.5 per cent.
BC’s was the third biggest annual rise of all provinces and territories, with Yukon seeing an annual investment boost of more than 50 per cent and Alberta posting a 23 per cent investment increase.
To see the interactive table, with statistics broken down by province, housing type and dates, click here.
