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Investment in BC New Home Construction up 18.2%: StatCan

Joannah Connolly
June 22, 2015

Investment in BC new housing construction was up 18.2 per cent year over year to more than $739 million in April, according to Statistics Canada data released June 22.

Growth in duplex construction led the growth again this month, up 28.7 per cent compared with April 2014, followed by single-family homes, which rose 18.2 per cent year over year.

The growth in townhome investment in the province slipped slightly but was still high at 17.3 per cent year over year.

Having started to pick up last month, BC's annual growth in new condo apartment investment rocketed to 17.3 per cent year over year.

The province’s overall annual housing investment growth was the second highest in Canada, after the Northwest Territories, which posted a 48 per cent year-over-year increase.

Across Canada, the $3.89 billion new housing investment was an annual increase of a much more modest 2.3 per cent, due to significant declines in some provinces and territories.

Nationwide, apartment buildings emerged as the biggest driver of investment growth, rising 7.9 per cent compared with last April, while investment in single-family homes fell by 1.8 cent compared with April 2014.

To see Statistics Canada’s interactive chart, click here.

Joannah Connolly
Joannah Connolly is editorial director of Glacier Real Estate, Glacier Media's real estate division. Joannah writes and curates real estate news for Glacier Media's local newspaper websites, including the Vancouver Courier, North Shore News, Burnaby Now, Tri-City News and others. She also oversees editorial content in Real Estate Weekly Homes, West Coast Condo, Western Investor and Glacier's special real estate publications. A dual Canadian-British citizen, Joannah has 22 years of journalism and editing experience in Vancouver and London, with a background in construction, architecture, healthcare and business media. Joannah has appeared on major local TV outlets as a real estate commentator, has moderated and spoken on various industry panels, and spent two years hosting the Real Estate Therapist radio show on Roundhouse Radio.