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October 13, 2021BUILDING CONSTRUCTION, AUGUST 2021 With August reference month results, year-over-year (August 2021 vs August 2020) and year-to-date (Jan-Aug 21 vs Jan-Aug 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 increased 1.7% in August 2021 (seasonally adjusted) compared to July 2021. Halifax monthly building construction increased 7.3% in August 2021 while outside of Halifax building construction decreased 2.5%.
Nationally, investment in building construction decreased 2.0% in August 2021. The monthly decrease is due to decline in residential construction, a fourth consecutive monthly decline following a record peak in April 2021. Monthly building construction was down in all provinces except Nova Scotia (+1.7%), with Newfoundland and Labrador (-13.9%), Prince Edward Island and Manitoba (both at -6.0%) posting the largest declines.
In the first eight months of 2021, building construction investment (seasonally adjusted) was up 20.5% in Nova Scotia over January-August 2020. Outside of Halifax construction activity was up 50.4% and Halifax construction activity was down 1.9%. National building construction investment was up 23.8% with all provinces reporting increases except Newfoundland and Labrador (-0.6%) over January-August 2020. The largest increases over this period were reported in Prince Edward Island (+56.0%) and New Brunswick (+36.3%).
Total Nova Scotia building construction investment was $325.0 million in August 2021. Outside of Halifax building construction totaled $177.1 million in August 2021, while there was $147.9 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 spring 2021 building construction declined in Halifax while it increased outside of Halifax. In recent months building construction is increasing in Halifax while declining outside of Halifax.
Residential construction
In August 2021, residential construction investment (seasonally adjusted) in Nova Scotia increased 2.0% to $277.0 million. Outside of Halifax residential construction was down 1.8% to $150.7 million. Halifax residential construction was up 7.0% to $126.2 million.
National residential construction decreased 2.9% month-to-month as all provinces reported lower residential construction investment except Nova Scotia (+2.0%). The largest declines were reported in Newfoundland and Labrador (-25.0%) and Manitoba (-8.1%).
In January-August 2021, residential construction investment (seasonally adjusted) was up 27.3% in Nova Scotia over the same period in 2020. Halifax's residential construction was up 2.5%. Outside of Halifax, residential construction was up 62.3%.
National residential construction was up 37.9%. All provinces reported higher residential construction investment except Newfoundland and Labrador (-2.7%) for the period. The largest increases were reported in New Brunswick and Prince Edward Island (both at +60.2%).
Higher renovations outside of Halifax was the largest factor in the increase compared to January-August 2020. In January-August 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 eight months of 2020.
Non-residential construction
In August 2021, non-residential building construction edged up 0.1% to $48.1 million in Nova Scotia (seasonally adjusted). In Halifax, non-residential construction was up 8.5% to $21.7 million. Outside of Halifax, non-residential construction was down 5.9% to $26.4 million.
National non-residential building construction was up 0.6% in August 2021. Seven provinces reported increases, with the largest increase in Saskatchewan (+2.7%). The largest decrease was reported in Prince Edward Island (-4.6%).
In the first eight months of 2021, Nova Scotia's non-residential construction (seasonally adjusted) was down 8.3% over the same period in 2020. Halifax's non-residential construction was down 23.0%. Outside of Halifax, non-residential construction was up 7.3%.
National non-residential construction investment decreased 5.0%, year-to-date. The largest declines were reported in Saskatchewan (-28.9%) and Manitoba (-21.3%). Non-residential construction increased in Prince Edward Island (+44.5%), Ontario (+3.6%), and Newfoundland and Labrador (+3.4%) over this period.
In January-August 2021 vs January-August 2020, Nova Scotia non-residential building construction decrease was concentrated in Halifax commercial but was partially offset with higher industrial in Halifax and institutional/government project spending across the province.
Statistics Canada. Table 34-10-0175-01 Investment in Building Construction
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