Statistics Canada reported on Friday that total investment in building construction across the country rose by 1 percent to $15.6 billion in September. Investment increased in both the residential (up 1.2 percent to $10.8 billion) and non-residential (up 0.4 percent to $4.9 billion) sectors.

Ontario leads in residential investment
Investment in the residential sector was up in five provinces in September, led by Ontario (+$89.4 million) and Quebec (+$43.3 million). Nationally, investment in the single (+1.4 percent to $5.4 billion) and multi-unit (+1.1 percent to $5.3 billion) dwellings increased compared with August. In Ontario, investment in multi-unit dwellings rose for the fourth consecutive month, up 1.9 percent in September to $2.1 billion.

Non-residential investment edges up
Investment in the non-residential sector edged up 0.4 percent to $4.9 billion. The commercial component increased 0.7 percent to $2.8 billion, with Quebec posting the largest increase (+$11.2 million). Nationally, the industrial and institutional components were largely unchanged.

Third quarter 2019: Investment in single homes in Ontario up sharply
Total investment in building construction grew 2.4 percent from the second quarter to $46.4 billion in the third quarter, driven by increased investment in single homes in Ontario (+10.4 percent). Investment was up in every component of the non-residential sector in the third quarter with the largest increase in British Columbia (+5.5 percent).

On an unadjusted basis, quarterly investment in non-residential new construction rose 11.5 percent year over year to $7.0 billion in the third quarter, reflecting gains in the commercial component (+19.5 percent to $3.9 billion). Investment in residential new construction was largely unchanged year over year at $16.6 billion in the third quarter. Lower investment in singles (-7.3 percent) and doubles (-2.0 percent) was offset by increases in row homes (+13.6 percent) and apartments (+5.2 percent).