New housing investment soars in Alberta

Investment in new housing construction in the province reached $664.6 million in December, up almost 16%: StatsCan

Statistics Canada reported on Wednesday that investment in new housing construction in the province reached $664.6 million in December, up 15.7 per cent from a year ago.

“Alberta recorded the second largest provincial gain in new housing construction investment (plus $90.3 million). Increases were posted for all building types, but were mainly driven by a $68.8 million rise in investment in single home construction,” said the federal agency.

Across Canada, new housing construction investment totalled $4.7 billion in December, up 10 per cent compared with December 2016. Quebec had a $162.9 million increase.

For 2017 in Alberta, the annual increase ($579.2 million) was the result of spending on single home construction, up $870.9 million. That was offset by lower spending on apartment building construction (down $374.5 million).

The report can be found at https://goo.gl/gRk2ig

Respected business writer Mario Toneguzzi is a veteran Calgary-based journalist who worked for 35 years for the Calgary Herald in various capacities, including 12 years as a senior business writer.


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