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.

Click to play video: '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.

Financial news and insights delivered to your email every Saturday.

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.

Sponsored content

AdChoices