BC Residential Construction Investment Up 10%: StatCan

Tuesday, September 23rd, 2014

BC invests $609.6 billion in new housing construction in July 2014, far outstripping national average, reports Statistics Canada

Joannah Connolly

BC poured $609.6 billion into new housing construction in July 2014, a 10.6 per cent increase year over year, according to Statistics Canada data released September 23.

BC’s residential construction investment yet again far outstripped the national average year-over-year rise of 0.7 per cent to $4.076 billion, and was second only to Alberta in terms of its annual increase.

Broken down by property type, compared with July 2013, BC invested 25.9 per cent more in row homes (townhomes), 17 per cent more in single-family homes and 2.3 per cent more in condos. However, investment in duplex housing fell 2.7 per cent year over year.

Across the country, townhome investment increased the most, at 19 per cent higher than last July, followed by duplexes at 7.5 per cent.

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