Residential construction investment, third quarter 2014
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Residential construction investment totalled $30.2 billion in the third quarter, up 5.9% from the same quarter in 2013. Renovation spending was behind most of the increase at the national level, rising 8.9% to $13.9 billion. Increases in investment in single-family dwellings (+4.8% to $7.4 billion) and row houses (+16.3% to $1.2 billion) also contributed to this growth.
Total residential investment was up in five provinces, led by Ontario, followed by Alberta and Quebec. Ontario's advance (+7.6% to $10.8 billion) resulted mainly from higher renovation spending and investment for single-family dwellings. The increase in Alberta (+9.7% to $4.7 billion) came mostly from higher investment in singles, apartments, row houses and semi-detached dwellings. Quebec's gain (+6.5% to $6.7 billion) was a result of higher renovation spending.
Note to readers
Data on residential construction investment are not seasonally adjusted and all comparisons in this release are between the third quarter of 2013 and the third quarter of 2014. Data are expressed in current dollars and are available at the national and provincial levels.
A new revision schedule has been implemented. Annual revisions of the three most recent calendar years will take place during the release of the third quarter data at the beginning December, rather than in June, as was previously the practice.
With this release, data from the first quarter of 2011 to the second quarter of 2014 have been revised. Unless otherwise stated, the highlights are ranked in terms of dollar change rather than percentage change.
Data on residential construction investment for the fourth quarter of 2014 will be released on March 4, 2015.
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To enquire about the concepts, methods or data quality of this release, contact Mariane Bien-Aimé (613-951-7520), Investment, Science and Technology Division.