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December 09, 2021BUILDING CONSTRUCTION, OCTOBER 2021 With October reference month results, year-over-year (October 2021 vs October 2020) and year-to-date (Jan-Oct 21 vs Jan-Oct 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 0.7% in October 2021 (seasonally adjusted) compared to September 2021. Halifax monthly building construction increased 5.4% in October 2021 and outside of Halifax building construction decreased 5.9%.
Nationally, investment in building construction increased 1.6% in October 2021, following five months of declines. Monthly building construction was up in six provinces with Newfoundland and Labrador (+21.1%), Saskatchewan (+12.1%), and Prince Edward Island (+11.6%) posting the largest gains. The largest declines were reported in Manitoba (-5.0%) and New Brunswick (-3.1%)
In the first ten months of 2021, building construction investment (seasonally adjusted) was up 21.2% in Nova Scotia over January-October 2020. Outside of Halifax construction activity was up 46.8% and Halifax construction activity was up 1.3%. National building construction investment was up 20.9% with all provinces reporting increases except Newfoundland and Labrador (-14.8%) over January-October 2020. The largest increases over this period were reported in Prince Edward Island (+46.9%) and Quebec (+28.0%).
Total Nova Scotia building construction investment was $360.3 million in October 2021. Outside of Halifax building construction totaled $181.9 million in October 2021, while there was $178.4 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 spring 2021 building construction declined in Halifax while it increased outside of Halifax. In recent months building construction is increasing in Halifax while decreasing in outside of Halifax.
Residential construction
In October 2021, residential construction investment (seasonally adjusted) in Nova Scotia decreased 1.9% to $306.7 million. Outside of Halifax residential construction was down 7.3% to $154.5 million. Halifax residential construction was up 4.4% to $152.1 million.
National residential construction increased 1.4% month-to-month as six provinces reported higher residential construction investment. The largest increases were reported in Newfoundland and Labrador (+43.9%), Prince Edward Island (+17.8%) and Saskatchewan (+16.7%). The largest decline was reported in Manitoba (-7.5%).
In January-October 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 5.3%. Outside of Halifax, residential construction was up 57.0%.
National residential construction was up 31.9%. All provinces reported higher residential construction investment except Newfoundland and Labrador (-22.4%) for the period. The largest increases were reported in Prince Edward Island (+48.3%) and Quebec (+44.8%).
Higher renovations outside of Halifax was the largest factor in the increase compared to January-October 2020. In January-October 2021, new construction was up both for singles and multiple dwelling units across the province compared to the first ten months of 2020.
Non-residential construction
In October 2021, non-residential building construction increased 6.8% to $53.7 million in Nova Scotia (seasonally adjusted). In Halifax, non-residential construction was up 11.7% to $26.2 million. Outside of Halifax, non-residential construction was up 2.5% to $27.4 million.
National non-residential building construction was up 2.0% in October 2021. Seven provinces reported increases, with the largest increase in Nova Scotia (+6.8%). The largest decrease was reported in Prince Edward Island (-2.9%).
In the first ten months of 2021, Nova Scotia's non-residential construction (seasonally adjusted) was down 5.7% over the same period in 2020. Halifax's non-residential construction was down 18.4%. Outside of Halifax, non-residential construction was up 7.8%.
National non-residential construction investment decreased 2.8%, year-to-date. The largest declines were reported in Saskatchewan (-24.2%) and Manitoba (-20.0%). Non-residential construction increased in Prince Edward Island (+43.1%), Ontario (+4.7%), and Newfoundland and Labrador (+1.6%) over this period.
In January-October 2021 vs January-October 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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