Government of Nova Scotia, Canada
Header - Service Directory

Use the Services Directory to quickly access information on all of the services provided by the NS Department of Finance.

Home > Economics and Statistics > Archived Daily Stats > Selected Archived Daily Stats Article
The Economics and Statistics Division maintains archives of previous publications for accountability purposes, but makes no updates to keep these documents current with the latest data revisions from Statistics Canada. As a result, information in older documents may not be accurate. Please exercise caution when referring to older documents. For the latest information and historical data, please contact the individual listed to the right.

<--- Return to Archive

For additional information relating to this article, please contact:

William Steele Senior Economist
Tel: 902-424-6131Email: Bill.Steele@novascotia.ca

October 20, 2017
INVESTMENT IN NEW HOUSING CONSTRUCTION, AUGUST 2017

Investment in new housing construction in Nova Scotia (current dollars) increased by 17.4 per cent in August 2017 compared to August 2016 to $72.5 million. Investment in new single-detached units decreased by 5.1 per cent, or $1.86 million, to $35.0 million, while investment in apartment units increased by 67.1 per cent, or $13.1 million, to $32.7 million. In Canada, new housing investment increased by 5.8 per cent over the same period.  

On a year-to-date basis, new housing investment increased 21.8 per cent in Nova Scotia, to $550.8 million in the first eight months of the year. Investment in construction of single-detached units was up 14.3 per cent to $279.5 million while investment in apartment unit construction was up 37.3 cent to $230.2 million.

Historically, Nova Scotia investment in new housing construction declined from late 2012 to mid-2014, reaching a monthly minimum in May of 2014 (note that May is typically a low month in the seasonal cycle for new housing construction). Investment has been generally on the rise since then. Investment in single-detached housing construction has generally declined over the past decade, while multiple unit construction surged periodically since 2011, at times displacing single housing as the largest component of new residential investment.

So far in 2017, single-detached construction investment has picked up compared to last year but remained low compared to historical averages. Apartment construction investment has also picked up in 2017, remaining elevated compared to historical averages. The shift to multiple unit construction is consistent with national trends, though the decline in investment in single unit housing is more pronounced in Nova Scotia.

Looking across the country, seven provinces saw an increase in investment in August 2017 compared to August 2016, led by Prince Edward Island, Manitoba, and Alberta. New housing investment in Newfoundland and Labrador declined 25.3 per cent compared to August 2016.

On a year-to-date basis, eight provinces saw an increase in investment in the first eight months of 2017 compared to the same period in 2016, led by Prince Edward Island, Manitoba, Nova Scotia, and Ontario. Two provinces saw a decline in investment, with the largest drop in Newfoundland and Labrador.

Statistics Canada CANSIM 026-0017



<--- Return to Archive