Seasonally adjusted month-to-month change in non-residential construction investment. (Source: Statistics Canada, Table 34-10-0286-01—Investment in Building Construction.)
Declines in the residential sector were somewhat offset by gains in the non-residential sector, putting overall investment in building construction 0.9 per cent in the red for March, but still solidly ahead of March 2024, reports Statistics Canada. Canada’s building sector posted in at $22.2 billion this past March, off $192.2 million from February.
The residential sector fell 1.8 per cent on the month, coming in at $15.3 billion while the non-residential sector rose 1.3 per cent, coming in at $6.8 billion. Year over year, investment in building construction grew 5.4 per cent in March.
The decrease in residential building construction was driven by the multi-unit segment, which dipped 3.8 per cent. That was tempered by single-family home investment, which rose by a half per cent. Multi-unit investment dropped $313.9 million from February to land at $8 billion in March. Most of the decline was attributed to Ontario and Quebec.
Single family home investment edged up by $36.2 million to $7.3 billion in March as five provinces and one territory posted growth, led by a $131.6 million gain in Quebec and a $38.2 million rise in Manitoba. Offsetting those gains were a $96.8 million decrease in Ontario and a $53.1 million dip in Alberta.
Investment in non-residential construction marked its the eighth consecutive monthly increase, with March growth spread across the three subsectors. Institutional investment grew 2.4 per cent to $2 billion, commercial rose one per cent to $3.3 billion, and industrial nudged up by 0.3 per cent, to post in at $1.5 billion.
Investment in building construction grew 3.3 per cent in the first quarter of 2025, rising to $66.6 billion. Year over year, investment was up 6.5 per cent for the quarter.
Within those gains, the non-residential sector was up 2.8 per cent to $20.3 billion, and the residential sector increased 3.5 per cent to $46.3 billion. The residential segment was led by a 6.5 per cent gain in the multi-unit component.