Investment in building construction rose 1.8% (+$393.7 million) to $22.1 billion in January, led by strong growth across Ontario.

Investment in residential building construction increased $342.0 million to $15.4 billion. Gains were seen in four provinces and two territories, driven by Ontario (+$354.8 million; +6.3%), while Manitoba (-$61.6 million; -12.3%) led the decline.

Investment in multi-unit construction was up $497.5 million to $8.2 billion in January. Gains were led by Ontario (+$421.0 million).

Single-family home investment declined $155.5 million to $7.2 billion in January, with declines recorded in eight provinces and one territory.

Investment in non-residential construction increased $51.7 million to $6.7 billion in January. This marked the sixth consecutive monthly increase. Much of the recent growth stemmed from the institutional and industrial components, which both reached a record high in January.

The institutional component rose $38.8 million to $2.0 billion in January. Gains were recorded in six provinces and three territories, led by Ontario (+$18.3 million).

Investment in the industrial component increased $22.5 million to $1.5 billion in January, driven by Ontario (+$15.2 million) and Alberta (+$5.1 million).

Meanwhile, the commercial component decreased $9.5 million to $3.3 billion in January following five consecutive monthly increases. Declines in six provinces and two territories were tempered by growth in Ontario (+$16.3 million).

Year over year, investment in building construction grew 5.7% in January.