Christina Newberry
Other
Investment in BC residential construction was up 11.3 per cent year over year to $633 million in December, according to Statistics Canada data released February 20. That’s the second-largest increase in the country, with Alberta leading the way at 16.7 per cent.
That investment was down 8.0 per cent from November 2014 in an anticipated seasonal drop.
Once again, townhouse construction saw large gains, with a 21.5 per cent increase year over year, but it was actually duplexes that saw the largest percentage increase: 23 per cent year over year.
Single-family homes were up 14.8 per cent compared with December 2013, and condo construction investment was up 4.0 per cent.
Nationally, $3.7 billion was invested in residential construction in November – an increase of 5.1 per cent year over year.
To see Statistics Canada’s interactive chart, click here.
© 2014 Real Estate Weekly