Spending on home building in BC increased nearly 17 per cent year over year in October, and 4.2 per cent since last month, to $871.7 million, according to a Statistics Canada report published December 22. As has been the trend for many months, apartment-condo construction was by far the biggest driver of growth in BC home building investment, rising 30.2 per cent compared with October 2014 to $390.6 million, a jump of 12.7 per cent month over month.
Detached home construction investment in the province also increased, with the $379.5 million spent across BC an 8.8 per cent rise over October 2014, but this was a drop of 1.9 per cent increase compared with September. Also as in recent months, the province’s total $871.7 million new home construction spend was once again the third highest dollar figure in the country, after Ontario and Alberta.
BC’s 16.7 per cent annual increase was fourth highest in October, with the Northwest Territories, Nova Scotia and Ontario all increasing their construction spend at a faster rate.
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