Investment in building construction rose $454.4 million to $22.7 billion in June as a slight contraction in non-residential values was more than offset by growth in the residential sector.

Compared with June 2024, investment in building construction grew by 8%.

Investment in residential building construction rose $485.3 million (+3.1%) to $15.9 billion in June. The increase was driven by the multi-unit component (+4.2%), followed by the single-family component (+1.8%).

Multi-unit construction investment increased $362.3 million to $9.1 billion. Gains were led by Quebec (+$125.2 million), followed by British Columbia (+$72.7 million).

Investment in single-family home construction grew by $123.0 million to $6.9 billion in June. The increase in the single-family component was led by Quebec (+$68.4 million), followed by Ontario (+$36.3 million).

Meanwhile, the value of investment in non-residential building construction edged down $30.8 million to $6.7 billion. All three components in the non-residential sector—industrial (-1.9%), institutional (-0.1%) and commercial (-0.1%)—decreased.

The industrial component declined $27.3 million to $1.4 billion in June, marking the fifth consecutive monthly decrease. Losses were led by Quebec (-$13.5 million) and Ontario (-$6.8 million).

The institutional component edged down $1.8 million to $2.0 billion in June, with decreases recorded in six provinces and three territories, led by Quebec (-$9.8 million). The declines were partially offset by increases in Alberta (+$5.0 million) and British Columbia (+$2.9 million).

Investment in the commercial component was slightly down, decreasing $1.7 million to $3.3 billion in June. Declines in the commercial component were led by Ontario (-$9.7 million) and British Columbia (-$3.2 million) and were tempered by an increase in Quebec (+$10.9 million).

Second quarter summary: Investment increases

The value of investment in building construction was $67.4 billion in the second quarter, virtually unchanged from the previous quarter. Year over year, investment in building construction grew by 8.5%.

Investment in residential building construction edged up 0.2% to $47.1 billion in the second quarter. This increase was driven by the multi-unit component, which rose 1.5%, while the single-family component declined 1.4%.

Investment in non-residential building construction decreased 0.6% to $20.3 billion in the second quarter. Decreases in the industrial (-3.8%) and commercial (-1.0%) components were partially offset by an increase in the institutional component (+2.2%).