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June 10, 2021BUILDING CONSTRUCTION, APRIL 2021 With April reference month results, year-over-year (Apr 2021 vs Apr 2020) and year-to-date (Jan-Apr 21 vs Jan-Apr 20) are beginning to show the rebounds in economic activity from the unprecedented declines observed at the start of the COVID-19 pandemic.
Total residential and non-residential construction
Investment in Nova Scotia building construction increased 2.7% in April 2021 (seasonally adjusted) compared to March 2021. Outside of Halifax monthly building construction increased 20.2% while Halifax building construction decreased 14.9% in April 2021.
Nationally, investment in building construction increased 6.3% in April 2021. The monthly increase is mainly due to gains in residential construction. Monthly building construction was up in all provinces, with Prince Edward Island (+52.8%) and New Brunswick (+11.3%) posting the largest gains. The smallest gains were reported in Saskatchewan (+1.7%) and Nova Scotia (+2.7%).
In the first four months of 2021, building construction investment (seasonally adjusted) was up 26.2% in Nova Scotia over January-April 2020. Halifax construction activity was up 12.6% and outside of Halifax construction activity was up 46.0%. National building construction investment was up 26.6% with all provinces reporting increases over January-April 2020. The largest increases over this period were reported in Prince Edward Island (+50.5%) and New Brunswick (+46.4%). The smallest increase over this period was reported in Alberta (+4.2%).
Total Nova Scotia building construction investment was $351.5 million in April 2021. Outside of Halifax building construction totaled $206.0 million in April 2021, while there was $145.4 million in building construction in Halifax. There had been a notable acceleration in building construction investment towards the end of 2020, particularly residential construction investment in Halifax. In recent months building construction is declining in Halifax while increasing in Outside of Halifax.
Residential construction
In April 2021, residential construction investment (seasonally adjusted) in Nova Scotia increased 3.2% to $300.3 million. Outside the Halifax residential construction was up 23.5% to $176.3 million. Halifax residential construction was down 16.4% to $124.0 million.
National residential construction increased 8.1% month-to-month as all provinces reported higher residential construction investment. The largest gains were reported in Prince Edward Island (+68.5%) and New Brunswick (+14.2%). The smallest gains were reported in Saskatchewan (+2.3%) and Nova Scotia (+3.2%).
In January-April 2021, residential construction investment (seasonally adjusted) was up 34.3% in Nova Scotia over the same period in 2020. Halifax's residential construction was up 18.8%. Outside of Halifax, residential construction was up 59.1%.
National residential construction was up 41.5%. All provinces reported higher residential construction investment for the period. The largest increases were reported in Saskatchewan (+92.3%) and New Brunswick (+88.8%). The smallest increase was reported in British Columbia (+15.1%).
Higher renovations across the province was the largest factor in the increase compared to January-April 2020. In January- April 2021, new construction was up both for singles and multiple dwelling units across the province compared to the first four months of 2020.
Non-residential construction
In April 2021, non-residential building construction edged down 0.2% to $51.2 million in Nova Scotia (seasonally adjusted). In Halifax, non-residential construction was down 5.0% to $21.4 million. Outside of Halifax, non-residential construction was up 3.6% to $29.8 million.
National non-residential building construction was up 0.9% in April 2021. Four provinces reported increases, with the largest increases in Prince Edward Island (+8.2%) and Ontario (+2.1%). The largest declines were reported in New Brunswick (-1.7%) and Newfoundland and Labrador (-1.6%).
In the first four months of 2021, Nova Scotia's non-residential construction (seasonally adjusted) was down 7.4% over the same period in 2020. Halifax's non-residential construction was down 18.3%. Outside of Halifax, non-residential construction was up 3.8%.
National non-residential construction investment decreased 4.0%, year-to-date. The largest declines were reported in Saskatchewan (-34.8%) and New Brunswick (-24.0%). Non-residential construction increased in Prince Edward Island (+29.3%), Newfoundland and Labrador (+7.9%), and Ontario (+7.8%) over this period.
In January-April 2021 vs January-April 2020, Nova Scotia non-residential building construction decreases were concentrated in Halifax commercial but were partially offset with higher Halifax industrial and institutional/government project spending.
Statistics Canada. Table 34-10-0175-01 Investment in Building Construction
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