Investment in the construction of new housing was down in November, according to Statistics Canada data released January 22.
New housing construction in British Columbia was $611.9 million in November – a dip of 8% or $55.7 million compared with October. New housing construction fell in all categories in B.C. in November, but the overall decline was driven in large part by a decline in the number of new apartments construction, which fell by $30.2 million to $260.6 million – a drop of 10.4%.
Year-over-year, construction of new dwellings was down a total of $5.7 million – a decrease of less than 1%.
Across Canada, November saw $3.8 billion in the construction of new housing. This represents a drop $345.5 million or 8.3% compared with October. Decreases were seen in all categories. The biggest change was in the construction of single dwellings, which fell 7.5% or $164.1 million.
Year-over-year, construction in Canada was down 8.2% or $342.3.
