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August 12, 2022BUILDING CONSTRUCTION, JUNE 2022 Month-over-month (June 2022 vs May 2022, seasonally adjusted)
Investment in Nova Scotia building construction increased 6.7% in June 2022 to $512.6 million. Halifax monthly building construction increased 22.9% to $308.2 million while outside of Halifax building construction decreased 10.9% to $204.3 million. Nationally, investment in building construction increased 0.3%. Monthly building construction was up in six provinces with Newfoundland and Labrador and Saskatchewan posting the largest gains. Prince Edward Island and Quebec reported the largest declines.
Nova Scotia's June 2022 residential construction investment in Nova Scotia increased 7.8% to $442.5 million. Halifax residential construction was up 26.7% to $265.2 million. Outside of Halifax residential construction was down 11.9% to $177.3 million. National residential construction was down 0.4% as four provinces reported lower residential construction investment. The largest decrease were in Prince Edward Island and Quebec. The largest increases were in Newfoundland and Labrador and Saskatchewan.
Nova Scotia's non-residential building construction increased 2.5% to $70.0 million. In Halifax, non-residential construction was up 0.5% to $43.0 million. Outside of Halifax, non-residential construction was down 4.2% to $27.0 million. National non-residential building construction was up 2.4% in June 2022. Six provinces reported increases, with the largest increase in New Brunswick. The largest decline was reported in Newfoundland and Labrador.
Year-to-date (January-June 2022 vs January-June 2021)
Compared to January-June 2021, building construction investment was up 37.3% in Nova Scotia. Halifax construction activity was up 56.1% and outside of Halifax construction activity was up 20.4%. National building construction investment was up 10.4% with nine provinces reporting increases. Nova Scotia reported the largest increase in building construction investment from January-June 2021 to January-June 2022. The only decline was reported in Prince Edward Island.
Year-to-date residential construction investment was up 37.8% in Nova Scotia. Halifax's year-to-date residential construction was up 52.5%. Outside of Halifax, residential construction was up 24.3% year-to-date. National residential construction was up 9.1%. Nine provinces reported higher residential construction investment over January-June 2021. The largest increase was reported in Nova Scotia while Prince Edward Island reported the only decline.
New construction of both singles and multiplies along with higher renovation activity have contributed to residential building construction growth over the first half of 2022. Growth in each component has been stronger in Halifax than outside Halifax.
Nova Scotia's non-residential construction was up 34.0% year-to-date. Halifax's non-residential construction rose 80.1%. Outside of Halifax, non-residential construction was down 1.5%. National non-residential construction investment increased 14.2% compared to January-June 2021. Six provinces reported increases, with the largest increases in Quebec and Nova Scotia. The largest declines were reported in Prince Edward Island and Newfoundland and Labrador.
The year-to-date increase in Nova Scotia non-residential building construction was mostly due to higher investment in commercial and industrial projects in Halifax. The increase was partially offset by lower commercial investment outside of Halifax.
Trends
Total Nova Scotia building construction investment was $512.6 million in June 2022. Halifax building construction totaled $308.2 million while outside of Halifax building construction was $204.3 million. Since the fall of 2021, Nova Scotia building construction had been increasing, largely because of rising residential and non-residential construction in Halifax as well as a an increase in residential construction outside the city.
Statistics Canada. Table 34-10-0175-01 Investment in Building Construction
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