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February 10, 2022BUILDING CONSTRUCTION, DECEMBER AND ANNUAL 2021 With December reference month results, year-over-year (December 2021 vs December 2020) and year-to-date (Jan-Dec 21 vs Jan-Dec 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 9.4% in December 2021 (seasonally adjusted) compared to November 2021. Halifax monthly building construction increased 16.0% in December 2021 and outside of Halifax building construction increased 2.9%.
Nationally, investment in building construction increased 1.9% in December 2021. Monthly building construction was up in eight provinces with New Brunswick (+10.9%), Nova Scotia (+9.4%) and Newfoundland and Labrador (+7.8%) posting the largest gains. The declines were reported in Saskatchewan (-1.4%) and British Columbia (-0.4%)
In 2021, building construction investment (unadjusted) was up 21.6% in Nova Scotia over 2020. Outside of Halifax construction activity was up 46.8% and Halifax construction activity was up 2.5%. National building construction investment was up 19.3% with all provinces reporting increases except Newfoundland and Labrador (-18.0%) over 2020. The largest increases over this period were reported in Prince Edward Island (+43.2%) and Quebec (+26.5%).
Total Nova Scotia building construction investment was $432.6 million in December 2021. Halifax building construction totaled $227.7 million in December 2021 and outside of Halifax building construction was $204.9 million. 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 has been increasing in Halifax.
Residential construction
In December 2021, residential construction investment (seasonally adjusted) in Nova Scotia increased 10.4% to $373.7 million. Halifax residential construction was up 17.4% to $196.8 million. Outside of Halifax residential construction was up 3.5% to $176.9 million.
National residential construction increased 2.2% month-over-month as eight provinces reported higher residential construction investment. The largest increases were reported in New Brunswick (+15.8%) and Newfoundland and Labrador (+14.6%). The declines were reported in Saskatchewan (-2.4%) and British Columbia (-0.5%).
In 2021, residential construction investment (unadjusted) was up 26.6% in Nova Scotia over 2020. Halifax's residential construction was up 5.2%. Outside of Halifax, residential construction was up 56.3%.
National residential construction was up 28.4%. All provinces reported higher residential construction investment except Newfoundland and Labrador (-26.3%) over 2020. The largest increases were reported in Prince Edward Island (+45.9%) and Quebec (+39.9%).
Higher renovations outside of Halifax was the largest factor in the increase compared to 2020. In 2021, new construction was up both for singles and multiple dwelling units across the province compared to 2020.
Non-residential construction
In December 2021, non-residential building construction increased 3.9% to $58.9 million in Nova Scotia (seasonally adjusted). In Halifax, non-residential construction was up 8.3% to $30.9 million. Outside of Halifax, non-residential construction was down 0.5% to $28.0 million.
National non-residential building construction was up 1.1% in December 2021. Six provinces reported increases, with the largest increase in Nova Scotia (+3.9%). The largest decrease was reported in Prince Edward Island (-3.9%).
In 2021, Nova Scotia's non-residential construction (unadjusted) was down 1.9% over 2020. Halifax's non-residential construction was down 12.1%. Outside of Halifax, non-residential construction was up 8.8%.
National non-residential construction investment decreased 0.9% in 2021. Seven provinces reported declines, with the largest declines in Saskatchewan (-19.6%) and Manitoba (-19.0%). Non-residential construction increased in Prince Edward Island (+35.7%), Ontario (+5.5%), and Newfoundland and Labrador (+0.5%) over 2020.
In 2021 vs. 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.
RECENT TRENDS
Following slower growth in 2020, annual building investment growth accelerated in Nova Scotia in 2021. Building investment increased in all provinces except Newfoundland and Labrador, with the largest increase in Prince Edward Island compared to the previous year. Trends in building construction investment largely reflect outcomes in the relatively larger residential building construction segment.
Following slower growth in 2020, residential building construction investment growth accelerated in Nova Scotia in 2021. Residential building construction increased in all provinces except Newfoundland and Labrador, with the largest increases in Prince Edward Island and Quebec compared to the previous year.
Annual growth in non-residential building construction continue to decline in 2021 in Nova Scotia similar to national non-residential building construction. The largest declines were observed in Saskatchewan and Manitoba. The largest increase was observed in Prince Edward Island.
Statistics Canada. Table 34-10-0175-01 Investment in Building Construction
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