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September 13, 2021BUILDING CONSTRUCTION, JULY 2021 With July reference month results, year-over-year (July 2021 vs July 2020) and year-to-date (Jan-July 21 vs Jan-July 20) 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 4.0% in July 2021 (seasonally adjusted) compared to June 2021, a second consecutive monthly decline. Outside of Halifax monthly building construction decreased 14.5% while Halifax building construction increased 14.2% in July 2021.
Nationally, investment in building construction decreased 1.7% in July 2021. The monthly decrease is due to decline in residential construction, a third consecutive monthly decline following a record peak in April 2021. Monthly building construction was down in all provinces except Alberta (0.0%), with Newfoundland and Labrador (-14.1%) and Saskatchewan (-13.3%) posting the largest declines.
In the first seven months of 2021, building construction investment (seasonally adjusted) was up 22.9% in Nova Scotia over January-July 2020. Outside of Halifax construction activity was up 54.8% and Halifax construction activity was down 0.6%. National building construction investment was up 25.9% with all provinces reporting increases over January-July 2020. The largest increases over this period were reported in Prince Edward Island (+60.7%) and New Brunswick (+41.4%). The smallest increase over this period was reported in Alberta (+8.5%).
Total Nova Scotia building construction investment was $320.3 million in July 2021. Outside of Halifax building construction totaled $181.2 million in July 2021, while there was $139.1 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 2021 building construction is declining in Halifax while increasing outside of Halifax.
Residential construction
In July 2021, residential construction investment (seasonally adjusted) in Nova Scotia decreased 4.5% to $271.9 million. Outside of Halifax residential construction was down 16.3% to $153.1 million. Halifax residential construction was up 16.7% to $118.8 million.
National residential construction decreased 2.6% month-to-month as all provinces reported lower residential construction investment. The largest declines were reported in Newfoundland and Labrador (-20.7%) and Saskatchewan (-19.3%). The smallest decrease was reported in Quebec (-1.2%).
In January-July 2021, residential construction investment (seasonally adjusted) was up 30.3% in Nova Scotia over the same period in 2020. Halifax's residential construction was up 4.2%. Outside of Halifax, residential construction was up 68.2%.
National residential construction was up 41.4%. All provinces reported higher residential construction investment for the period. The largest increases were reported in New Brunswick (+71.5%) and Prince Edward Island (+67.7%). The smallest increase was reported in Newfoundland and Labrador (+16.9%).
Higher renovations outside of Halifax was the largest factor in the increase compared to January-July 2020. In January-July 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 seven months of 2020.
Non-residential construction
In July 2021, non-residential building construction was down 1.5% to $48.4 million in Nova Scotia (seasonally adjusted). Outside of Halifax, non-residential construction was down 3.6% to $28.1 million. In Halifax, non-residential construction was up 1.7% to $20.3 million.
National non-residential building construction was up 0.9% in July 2021. Six provinces reported increases, with the largest increase in New Brunswick (+3.7%). The largest decreases were reported in Nova Scotia and Newfoundland and Labrador (both at -1.5%).
In the first seven months of 2021, Nova Scotia's non-residential construction (seasonally adjusted) was down 8.1% over the same period in 2020. Halifax's non-residential construction was down 23.0%. Outside of Halifax, non-residential construction was up 7.9%.
National non-residential construction investment decreased 5.4%, year-to-date. The largest declines were reported in Saskatchewan (-31.0%) and Manitoba (-21.3%). Non-residential construction increased in Prince Edward Island (+42.7%), Newfoundland and Labrador (+4.8%), and Ontario (+3.6%) over this period.
In January-July 2021 vs January-July 2020, Nova Scotia non-residential building construction decrease was concentrated in Halifax commercial but was 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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