Total spending on residential construction was up 8.4 per cent in the year to April according to figures from Statistics Canada.
The total of $4.2 billion was boosted by higher investment in apartment and apartment-condo buildings, which rose 20.8 per cent to $1.5 billion. Higher spending on row houses (up 14.2 per cent to $433 million) and single-family dwellings (up 2.1 per cent to $2.1 billion) also contributed to the advance.
Five provinces recorded increases, led by Ontario, BC and Quebec; but 5 provinces recorded declines including Alberta (especially single-family homes), Saskatchewan and Manitoba.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: