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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

August 12, 2021
BUILDING CONSTRUCTION, JUNE 2021

With June reference month results, year-over-year (June 2021 vs June 2020) and year-to-date (Jan-June 21 vs Jan-June 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 decreased 4.6% in June 2021 (seasonally adjusted) compared to May 2021. Outside of Halifax monthly building construction decreased 7.8% while Halifax building construction increased 1.4% in June 2021.  

Nationally, investment in building construction decreased 4.5% in June 2021. The monthly decrease is due to declines in both residential and non-residential construction, following a period of sustained growth from November 2020 to April 2021. Monthly building construction was down in all provinces except Alberta (0.0%), with Prince Edward Island (-24.1%) and New Brunswick (-12.8%) posting the largest declines.

In the first six months of 2021, building construction investment (seasonally adjusted) was up 24.7% in Nova Scotia over January-June 2020. Halifax construction activity was up 1.0% and outside of Halifax construction activity was up 57.8%. National building construction investment was up 27.2% with all provinces reporting increases over January-June 2020. The largest increases over this period were reported in Prince Edward Island (+63.7%) and New Brunswick (+43.4%). The smallest increase over this period was reported in Alberta (+7.5%).

Total Nova Scotia building construction investment was $331.9 million in June 2021. Outside of Halifax building construction totaled $209.9 million in June 2021, while there was $122.0 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 June 2021, residential construction investment (seasonally adjusted) in Nova Scotia decreased 5.0% to $282.6 million. Outside of Halifax residential construction was down 8.4% to $180.7 million. Halifax residential construction was up 1.8% to $101.9 million. 

National residential construction decreased 5.8% month-to-month as all provinces reported lower residential construction investment except Manitoba (+0.2%). The largest declines were reported in Prince Edward Island (-31.4%), Saskatchewan and New Brunswick (both at -16.4%).

In January-June 2021, residential construction investment (seasonally adjusted) was up 32.7% in Nova Scotia over the same period in 2020. Halifax's residential construction was up 6.0%. Outside of Halifax, residential construction was up 72.4%.

National residential construction was up 43.4%. All provinces reported higher residential construction investment for the period. The largest increases were reported in New Brunswick (+78.0%) and Prince Edward Island (+73.7%). The smallest increase was reported in British Columbia (+19.3%).

Higher renovations across the province was the largest factor in the increase compared to January-June 2020. In January-June 2021, new construction was up both for singles and multiple dwelling units outside of Halifax while new construction was down for singles and up for multiple dwelling units in Halifax compared to the first six months of 2020.

Non-residential construction

In June 2021, non-residential building construction was down 2.6% to $49.3 million in Nova Scotia (seasonally adjusted). In Halifax, non-residential construction was down 0.9% to $20.0 million. Outside of Halifax, non-residential construction was down 3.7% to $29.3 million.

National non-residential building construction was down 0.4% in June 2021. Five provinces reported decreases, with the largest decrease in Nova Scotia (-2.6%). The largest increases were reported in New Brunswick (+3.2%) and Newfoundland and Labrador (+2.6%).

In the first six months of 2021, Nova Scotia's non-residential construction (seasonally adjusted) was down 7.9% over the same period in 2020. Halifax's non-residential construction was down 22.7%. Outside of Halifax, non-residential construction was up 8.0%.

National non-residential construction investment decreased 5.3%, year-to-date. The largest declines were reported in Saskatchewan (-33.0%) and Manitoba (-21.5%). Non-residential construction increased in Prince Edward Island (+38.9%), Newfoundland and Labrador (+6.1%), and Ontario (+4.8%) over this period.

In January-June 2021 vs January-June 2020, Nova Scotia non-residential building construction decreases were concentrated in Halifax commercial but were partially offset with higher industrial and institutional/government project spending across the province.

 

 

Statistics Canada.  Table  34-10-0175-01   Investment in Building Construction



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