Advertisement

New home construction surges in BC, Ontario as more condos go up

New home construction across the country was up 8.4 per cent in April with a total of $4.2 billion invested.
New home construction across the country was up 8.4 per cent in April with a total of $4.2 billion invested. AP Photo/Pat Sullivan, File

New home construction in Ontario jumped by $1.7 billion in April, a 32 per cent increase from the same time last year, according to data released by StatsCan Tuesday.

British Columbia followed with $945 million (a 28.3 per cent increase) while Quebec was in a distant third, where $590 million was spent (a 5.8 per cent increase).

READ MORE: Housing crash could cost Canadian banks billions

Apartment and condo buildings saw the biggest increase in new construction with $1.5 billion (20.8 per cent) being spent nationally. Row houses saw a 14.2 per cent increase to $433 million and single-family dwellings were up 2.1 per cent to $2.1 billion.

WATCH BELOW: With Vancouver’s real estate fever now infecting the suburbs, the British Columbia government says it’s taking action to remedy the situation. Shirlee Engel explains.

Vancouver’s piping hot real estate market spreads to suburbs
Vancouver’s piping hot real estate market spreads to suburbs

Construction on semi-detached homes dropped 14.7 per cent across the country, with only $195 million going to the building of them. April marks the 12th month in a row new construction of semi-detached homes fell.

Story continues below advertisement

Nova Scotia and Prince Edward Island were the only other provinces where spending increased on new home construction, with spending of $52 million (an 8.8 per cent increase) and $5.2 million (a 4.3 per cent increase), respectively.

READ MORE: Vancouver homes being flipped like ‘cheap penny stocks’ according to realtor

Overall new home construction across the country was up 8.4 per cent with a total of $4.2 billion invested.

Out of all the provinces and territories, Nunavut saw the biggest decline, falling 49.6 per cent to $1.1 million. The Northwest Territories fell 18.6 to $1.6 million and the Yukon dropped 10.5 per cent to $3.6 million.

Alberta spent $738 million, a decline of 28 per cent, while Saskatchewan fell 24.6 per cent to $91.1 million and Manitoba dropped seven per cent to $100 million. Newfoundland and Labrador recorded a 14 per cent drop to 27.3 million and New Brunswick dipped 1.3 per cent to $16.7 million.