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February 24, 2020BUILDING CONSTRUCTION, DECEMBER AND ANNUAL 2019 Total residential and non-residential construction
Investment in Nova Scotia building construction increased 0.6 per cent in December (seasonally adjusted) compared to November 2019. Halifax monthly building construction was down 0.5 per cent in December.
Nationally, investment in building construction rose 0.5 per cent in December. Ontario reported the strongest monthly gain while Newfoundland and Labrador reported the largest monthly decline.
In 2019, building construction investment was up 8.4 per cent in Nova Scotia. Halifax construction activity was up 6.7 per cent. National building construction investment was up 3.4 per cent with six provinces reporting growth over 2018. The fastest growth was reported in Prince Edward Island (+50.9 per cent) followed by Quebec (+10.7 per cent) and British Columbia (+10.3 per cent). The largest declines over this period were reported in Newfoundland and Labrador (-16.7 per cent) and Alberta (-10.9 per cent).
Total Nova Scotia building construction investment was $280.2 million in December. In recent years, Halifax has accounted for a rising share of construction activity in the province, particularly for residential investment. Halifax building construction totaled $163.5 million in December, while there was $116.8 million in building construction outside of Halifax.
Residential construction
In December 2019, residential construction investment (seasonally adjusted) in Nova Scotia rose 0.3 per cent to $222.3 million. Halifax residential construction decreased 1.3 per cent to $134.4 million.
National residential construction was up 0.3 per cent month-to-month as five provinces reported lower residential construction investment in December. The fastest gain was in Alberta, while the largest decline was in Newfoundland and Labrador.
In 2019, residential construction investment (unadjusted) was up 10.4 per cent in Nova Scotia. Halifax's residential construction was up 11.6 per cent.
National residential construction was up 2.3 per cent. Six provinces reported growth for the period, with Prince Edward Island (+57.4 per cent) and Nova Scotia reporting the fastest growth. Newfoundland and Labrador reported the largest decline over the same period in 2018 (-31.6 per cent).
Investment in renovation outside of Halifax and new construction for multiples in Halifax account for most of the rise in residential construction activity (unadjusted) in 2019 in Nova Scotia. Also, New construction is up 11.0 per cent in 2019 for single dwelling units. Other residential construction activity (such as conversions) is up in percentage terms but has contributed less than other residential activities to the overall rise in residential building expenditures so in 2019.
Non-residential construction
In December, non-residential building construction rose 1.7 per cent to $57.9 million in Nova Scotia (seasonally adjusted). In Halifax, non-residential construction was up 3.0 per cent to $29.1 million.
National non-residential building construction rose 0.8 per cent in December. Five provinces reported monthly gains, with the fastest growth reported in Prince Edward Island (+6.3 per cent). New Brunswick reported the largest monthly decline (-1.7 per cent).
In 2019, Nova Scotia's non-residential construction (unadjusted) is up 0.3 per cent compared to 2018. Halifax's non-residential construction is down 13.3 per cent in 2019.
National non-residential construction investment rose 6.0 per cent in 2019. The fastest growth was reported in British Columbia (+31.8 per cent), Prince Edward Island (+30.2 per cent) and Quebec (+17.1 per cent). The fastest decline was reported in Alberta (-4.3 per cent).
In 2019, Nova Scotia non-residential building construction declines are concentrated in both commercial and institutional/government projects in Halifax. Non-residential construction is up outside of Halifax on gains in commercial and institutional/government expenditures.
RECENT YEARS
Following slower growth in 2018, annual building investment growth picked-up in Nova Scotia in 2019. Building investment grew in several provinces and the strongest growth was in Prince Edward Island, while investment declined in Newfoundland and Labrador, New Brunswick, Saskatchewan and Alberta compared to the previous year. Trends in building construction investment largely reflect outcomes in the relatively larger residential building construction segment.
Following slower growth in 2018, residential building construction investment growth picked-up in Nova Scotia in 2019. Residential building construction grew in several provinces and the strongest growth was in Prince Edward Island and Nova Scotia, while it declined in Newfoundland and Labrador, New Brunswick, Saskatchewan and Alberta compared to the previous year.
Annual growth in non-residential building construction slowed in 2019 in Nova Scotia, Newfoundland and Labrador, New Brunswick, Ontario and Alberta, while it accelerated in Prince Edward Island, British Columbia, Quebec and Manitoba and became positive in Saskatchewan after declining in 2018.
Statistics Canada. Table 34-10-0175-01 Investment in Building Construction
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