Investment in building construction, September 2025
Released: 2025-11-19
$22.4 billion
September 2025
-1.1% 
(monthly change)
Overall, investment in building construction decreased 1.1% to $22.4 billion in September. Investment in the residential sector declined 1.7%, while that in the non-residential sector was virtually unchanged. Year over year, investment in building construction grew 6.0% in September.
On a constant dollar basis (2023=100), the total value of investment in building construction in September decreased 1.4% from the previous month to $20.7 billion and was up 2.3% year over year.
Chart 1
Investment in building construction, seasonally adjusted
Residential investment in building construction declines
Investment in residential building construction declined $263.1 million to $15.6 billion in September. This decrease was primarily attributed to the multi-unit component (-2.5%), followed by the single-family component (-0.6%).
Investment in multi-unit construction decreased $218.5 million to $8.4 billion in September. The decline was driven by Ontario (-$116.7 million), followed by Alberta (-$72.0 million) and British Columbia (-$32.7 million). In total, seven provinces and two territories contributed to this decrease.
In the single-family home construction sector, investment edged down $44.6 million to $7.3 billion in September. The decrease was largely attributed to Alberta (-$46.2 million), followed by Ontario (-$42.0 million). Quebec (+$22.5 million) and Saskatchewan (+$19.2 million) mitigated the decline.
Infographic 1
Investment in residential building construction, September 2025
Chart 2
Investment in residential building construction, seasonally adjusted
Non-residential building investment edges up
In September, the value of non-residential investment in building construction increased slightly by $3.3 million to reach $6.8 billion. Moderate gains were observed in the institutional (+0.7%) and commercial (+0.1%) components, while the industrial component (-1.3%) continued to decline.
Investment in the institutional component rose $15.6 million to $2.1 billion in September. The increase was driven by Alberta (+$14.8 million) and supported by British Columbia (+$5.9 million). Ontario (-$6.7 million) moderated the national growth.
Commercial construction investment increased $4.6 million to $3.3 billion in September. Gains in British Columbia (+$6.5 million), Manitoba (+$5.0 million) and Quebec (+$4.9 million) were tempered by a decline in Alberta (-$6.3 million).
Meanwhile, investment in the industrial component decreased $17.0 million to $1.3 billion in September, marking the eighth consecutive monthly decrease. Ontario (-$5.8 million), Alberta (-$5.4 million) and British Columbia (-$4.0 million) led the declines among those recorded in eight provinces and one territory.
Infographic 2
Investment in non-residential building construction, September 2025
Third quarter summary: Investment in building construction edges up
In the third quarter, investment in building construction increased 0.6% (+$392.2 million) to $67.7 billion from the previous quarter and grew 7.5% on a year-over-year basis.
Investment in the residential sector rose 0.9% to $47.5 billion in the third quarter. The single-family component (+5.0%) led this increase, while the multi-unit component (-2.3%) experienced a decline.
Meanwhile, investment in non-residential building construction edged down 0.1% to $20.3 billion in the third quarter. A decline in the industrial component (-4.9%) was partially offset by gains in the institutional (+2.3%) and the commercial (+0.4%) components.
For more information on construction, please visit the Construction statistics portal.
For more information on housing, please visit the Housing statistics portal.
Note to readers
This Daily release was created with the assistance of a generative artificial intelligence tool, using data and analysis prepared by Statistics Canada analysts. The final content was verified by subject-matter experts.
Table 34-10-0286 has been archived on the Statistics Canada website and will no longer be updated but may still be viewed. The successor table is 34-10-0293, and the information from January 2017 onwards that was in table 34-10-0286 is still available in the new table, except for the constant dollar series, which has been rebased to 2017=100. Constant dollar data for January and February 2017 represent an average between the old base year (2012=100) and the new base year (2023=100) and should be used with caution. The 2017 data series will be backcasted and the figures will be revised with the release of our annual revision.
Data are subject to revisions based on late responses, delayed construction start dates for large projects, methodological changes, classification updates, price index updates for constant dollar series, benchmarking and adjustments to ad hoc macroeconomic events. Unadjusted data have been revised back to January 2023. Seasonally adjusted data have been revised back to January 2017.
Data presented in this release are seasonally adjusted with current dollar values unless otherwise stated. Using seasonally adjusted data allows month-to-month and quarter-to-quarter comparisons by removing the effects of seasonal variations. For information on seasonal adjustment, see Seasonally adjusted data—Frequently asked questions.
Monthly estimates for constant dollars are calculated using quarterly deflators from the Building Construction Price Index (18-10-0276-01). The monthly indexes used for the deflation process were part of a methodology review to increase the quality of the constant dollar and seasonally adjusted series. The indexes previously displayed a step pattern because of less frequent collection.
Detailed data on investment activity by type of building and type of work are now available in the unadjusted current dollar series.
The trade and services subcomponent includes buildings such as retail and wholesale outlets, retail complexes and motor vehicle show rooms. More detailed information can be found on the Integrated Metadatabase at Types of Building Structure - 2.2.1 - Trade and services.
Next release
Data on investment in building construction for October will be released on December 23.
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Contact information
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