On-Site Magazine

Building investment dips in November with declines in majority of provinces

By On-Site Staff   

Construction Financing

OTTAWA—Investment in building construction dipped in November, with both residential and non-residential sector taking a more than two per cent hit to $11.6 billion.

In the non-residential sector, investment decreased 1.6 per cent to $4.3 billion, largely due to declines in the vast majority of provinces except Newfoundland and Labrador (up 6.0 per cent to $51 million) and British Columbia (up 0.3% to $571 million).

Investment in each of the three non-residential sectors fell, with the institutional sector posting the largest decline, totaling $1 billion.

New construction accounted for the most significant investment in non-residential building, followed by renovations and “other types of work,” mainly deconversions.

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Though investment in new construction has declined as whole in the sector since January 2015, renovations have continued to increase to offset this decline.

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