Investment in new housing construction fell in December, Statistics Canada announced February 20.
In British Columbia, investment in construction of new dwellings was $569 million – a drop of 8% to compared with one month prior. December saw the lowest level of investment since July 2013. All categories of dwellings saw decreases except for double units, which increased 2% to $23 million. The biggest percentage decrease was seen in row housing construction, which feel 12% to $44 million.
Investment was up 4% year-over-year, however, from $545 million in December 2012.
Across Canada, there was $3.5 billion in new housing construction – a drop of 10% compared with November. Construction investment fell in all categories of dwellings. The biggest drop was in row housing, which feel 15% to $298 million.
Year-over-year, investment in new housing construction across the country was down 6%.
