Canadian investment in new housing construction rose 7.2 percent from June 2016 to C$4.7 billion (US$3.8 billion) in June. The increase was mostly attributable to higher investment in single family dwellings which increased C$257.9 million (US$205.6 million).
Nationally, all but one province saw an increase in new housing investment in June. The largest increase was in Quebec with C$82.6 million (US$65.9 million), followed by Alberta with C$72.5 million (US$57.8 million) and British Columbia with C$57.4 million (US$45.8 million). Newfoundland and Labrador posted a decrease of C$7.4 million (US$5.9 million) (-26.2 percent) compared to June 2016.
Quebec’s C$82.6 million (US$65.9 million) year-over-year increase was mostly a result of investments in apartments, accounting for 53 percent of the total gain in this province.
Alberta posted an increase of C$96.3 million (US$76.8 million) of investment in