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.

 

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. As a national average, the growth in new housing investment was up a much more modest 2.3 per cent year over year, due to significant declines in some provinces and territories.

 

Across Canada, apartment buildings emerged as the biggest driver of investment growth, rising 7.9 per cent compared with last March, while investment in single-family homes fell by 1.8 cent. April’s $3.89 billion investment nationwide was an increase of 11.1 per cent compared with March, improving after several postings of monthly declines through the winter season.

 

BC’s figures were also up 15 per cent month over month overall, increasingly significantly for all property types. New condo construction investment saw the biggest monthly boost in April, up 20.6 per cent compared with March.

 

To see Statistics Canada’s interactive chart, click here