BC construction investment building up!

BC construction investment building up!

2015, so far, has been an interesting year for the real estate market. The past months have seen a rising trend in the BC residential construction investment. It was up 10.9 per cent year over year to almost $605 million in January, according to data released by Statistics Canada data on March 20.

Looking at Canada as a whole, the growth in new housing investment was pretty moderate at 4.2 per cent year over year to $3.51 billion, with duplexes taking the lead with a 10.7 per cent rise.

Duplexes saw the biggest increase in investment in BC as well, up 25.2 per cent compared with January 2014, followed by townhouses, which rose 20.6 per cent year over year. Single-family home construction investment was up 15.6 per cent, but condo construction increased a meagre 2.6 per cent.

BC’s figures were down 4.4 per cent month over month, attributable to the respite the market usually goes through in winter. Row homes, or townhouses, however, saw a month-over-month increase in construction investment, which was up by 4.2 per cent.

 

 

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