Investment in Canadian Building Construction Rises in July

On Monday, Statistics Canada (StatCan) reported that investment in building construction increased CA$87.4 million, or 0.4%, to $22.7 billion in July. Investment rose 8.8% compared with July 2024.

On a constant dollar basis (2023=100), the value of investment edged up 0.1% to $21.2 billion and was up 5.0% year-over-year.

Residential Investment

Residential building investment increased $62.1 million to $16.0 billion in July. Growth was driven by the single-family component, which rose 2.5%, while the multi-unit component declined 1.2%.

Single-family home investment rose $173.1 million to $7.1 billion, led by Ontario (+$121.5 million) and Quebec (+$95.7 million). Declines were recorded in four provinces and all territories, with Nova Scotia posting the largest decrease (-$35.3 million).

Investment in multi-unit construction fell $110.9 million to $8.9 billion.

Nonresidential Investment

Nonresidential building investment increased $25.3 million to $6.8 billion in July. The institutional component rose $38.9 million to $2.1 billion, led by Alberta (+$40.1 million).

The industrial component decreased $11.1 million to $1.4 billion, with declines in five provinces and three territories. The commercial component slipped $2.5 million to $3.3 billion.