Building construction investment recorded a modest gain in February, with totals increasing in both the residential and non-residential sectors.

Overall investment rose by 1.5% to $22.4 billion. Investment in the residential sector increased by 1.8% to $15.7 billion, while the non-residential sector was up 0.8% to $6.8 billion.

Year over year, investment in building construction grew by 8.9% in February.

Ontario leads residential sector increase

Investment in residential building construction increased $277.5 million to $15.7 billion in February.

Investment in multi-unit construction rose $241.5 million to $8.4 billion in February, largely attributable to gains in Ontario (+$357.8 million) and British Columbia (+$53.1 million). Meanwhile, Alberta (-$62.7 million) and Nova Scotia (-$41.5 million) led the declines, along with four other provinces and three territories.

Single-family home investment was up $36.0 million to $7.3 billion in February. Gains in Quebec (+$48.2 million) and four other provinces were mitigated by decreases recorded in the remaining provinces and territories.

Institutional component drives non-residential gains

Investment in non-residential construction increased $54.2 million to $6.8 billion in February, with gains being spread across its three components: institutional (+$26.7 million), commercial (+$15.1 million) and industrial (+$12.4 million).

Investment in the institutional component grew $26.7 million to $2.0 billion in February, marking the eighth consecutive monthly increase. The growth was driven by Ontario (+$18.7 million) and supported by gains in eight other provinces and two territories. Of the two provinces and one territory that recorded declines, Quebec (-$9.4 million) had the largest decrease.

Commercial construction investment was up $15.1 million to $3.3 billion in February. Gains in Ontario (+$16.4 million) and New Brunswick (+$7.7 million) were slightly offset by declines in Quebec (-$8.6 million) and British Columbia (-$7.1 million).

The industrial component rose $12.4 million to $1.5 billion in February. Growth was recorded in seven provinces and two territories, with Ontario (+$7.2 million) leading the way.