Construction Investments Building in Canada
The strong Canadian economy helped drive investment in residential construction up 7.6 % in the 3rd quarter from the same period a year ago.
The growth, to $21.7 billion, was due to increases in all three components of residential construction investment:
- new housing;
- acquisition costs.
The numbers to Canada's strong economy, vitality of full-time employment numbers, relatively good mortgage rates and high international immigration.
Sharp increases in new-home prices in several centers also contributed to the increase in spending on residential construction.