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January 13, 2022BUILDING CONSTRUCTION, NOVEMBER 2021 With November reference month results, year-over-year (November 2021 vs November 2020) and year-to-date (Jan-Nov 21 vs Jan-Nov 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 5.8% in November 2021 (seasonally adjusted) compared to October 2021. Halifax monthly building construction increased 3.9% in November 2021 and outside of Halifax building construction increased 7.7%.
Nationally, investment in building construction increased 1.2% in November 2021. Monthly building construction was up in six provinces with Newfoundland and Labrador (+17.0%), Saskatchewan (+10.6%), and Nova Scotia (+5.8%) posting the largest gains. The largest declines were reported in Prince Edward Island (-6.9%) and New Brunswick (-2.4%)
In the first eleven months of 2021, building construction investment (seasonally adjusted) was up 21.4% in Nova Scotia over January-November 2020. Outside of Halifax construction activity was up 46.3% and Halifax construction activity was up 1.9%. National building construction investment was up 19.9% with all provinces reporting increases except Newfoundland and Labrador (-17.0%) over January-November 2020. The largest increases over this period were reported in Prince Edward Island (+42.6%) and Quebec (+26.4%).
Total Nova Scotia building construction investment was $391.2 million in November 2021. Outside of Halifax building construction totaled $201.3 million in November 2021, while there was $189.9 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.
Residential construction
In November 2021, residential construction investment (seasonally adjusted) in Nova Scotia increased 6.0% to $334.7 million. Outside of Halifax residential construction was up 8.5% to $172.8 million. Halifax residential construction was up 3.5% to $161.8 million.
National residential construction increased 1.5% month-to-month as seven provinces reported higher residential construction investment. The largest increases were reported in Newfoundland and Labrador (+33.9%) and Saskatchewan (+13.9%). The largest decline was reported in Prince Edward Island (-7.0%).
In January-November 2021, residential construction investment (seasonally adjusted) was up 27.0% in Nova Scotia over the same period in 2020. Halifax's residential construction was up 5.5%. Outside of Halifax, residential construction was up 55.7%.
National residential construction was up 29.8%. All provinces reported higher residential construction investment except Newfoundland and Labrador (-25.1%) for the period. The largest increases were reported in Prince Edward Island (+43.6%) and Quebec (+41.0%).
Higher renovations outside of Halifax was the largest factor in the increase compared to January-November 2020. In January-November 2021, new construction was up both for singles and multiple dwelling units across the province compared to the first eleven months of 2020.
Non-residential construction
In November 2021, non-residential building construction increased 4.7% to $56.5 million in Nova Scotia (seasonally adjusted). In Halifax, non-residential construction was up 6.5% to $28.0 million. Outside of Halifax, non-residential construction was up 3.1% to $28.5 million.
National non-residential building construction was up 0.6% in November 2021. Five provinces reported increases, with the largest increase in Nova Scotia (+4.7%). The largest decrease was reported in Prince Edward Island (-6.8%).
In the first eleven months of 2021, Nova Scotia's non-residential construction (seasonally adjusted) was down 3.7% over the same period in 2020. Halifax's non-residential construction was down 15.6%. Outside of Halifax, non-residential construction was up 8.9%.
National non-residential construction investment decreased 1.9%, year-to-date. Seven provinces reported declines, with the largest declines in Saskatchewan (-21.9%) and Manitoba (-19.5%). Non-residential construction increased in Prince Edward Island (+39.7%), Ontario (+5.0%), and Newfoundland and Labrador (+1.1%) over this period.
In January-November 2021 vs January-November 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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