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February 08, 2021BUILDING CONSTRUCTION, DECEMBER AND ANNUAL 2020 Total residential and non-residential construction
Investment in Nova Scotia building construction increased 9.1% in December 2020 (seasonally adjusted) compared to November 2020. Halifax monthly building construction increased 23.4% in December 2020.
Nationally, investment in building construction increased 1.5% in December 2020, following three consecutive monthly decline. In December 2020, this increase was mainly attributed to residential construction. Six provinces showed monthly increase, with the largest increases in Nova Scotia (+9.1%) and British Columbia (+3.3%). The largest decreases were reported in Newfoundland and Labrador (-10.0%) and Prince Edward Island (-4.8%).
In 2020, building construction investment (unadjusted) was down 2.2% in Nova Scotia over 2019. Halifax construction activity was down 0.5% and outside the city construction activity was down 4.5%. National building construction investment was down 2.0% with six provinces reporting declines over 2019. The largest decreases over this period were reported in Saskatchewan (-18.1%), British Columbia (-8.7%), and Alberta (-5.0%). Increases were reported in Manitoba (+12.9%), Prince Edward Island (+10.7%), Newfoundland and Labrador (+4.6%), and Ontario (+2.9%).
Total Nova Scotia building construction investment was $315.0 million in December 2020. Halifax building construction totaled $229.7 million in December 2020, while there was $121.2 million in building construction outside the city. There has been a notable acceleration in building construction investment towards the end of the year, particularly residential construction investment in Halifax.
Residential construction
In December 2020, residential construction investment (seasonally adjusted) in Nova Scotia increased 10.7% to $304.7 million. Halifax residential construction increased 27.4% to $205.5 million.
National residential construction increased 1.9% month-to-month as six provinces reported higher residential construction investment in December 2020. The largest increases were reported in Nova Scotia (+10.7%), Saskatchewan (+4.5%), and British Columbia (+4.3%). The largest decrease was reported in Newfoundland and Labrador (-13.2%).
In 2020, residential construction investment (unadjusted) was down 1.9% in Nova Scotia over 2019. Halifax's residential construction was down 0.9%. Outside the city, residential construction was down 3.3%.
National residential construction was down 1.8%. Four provinces reported lower residential construction investment for the period. The largest declines were reported in Saskatchewan (-15.5%) followed by British Columbia (-10.1%), and Quebec (-6.5%). The largest increases were reported in Manitoba (+15.5%), Newfoundland and Labrador (+14.0%) and New Brunswick (+10.7%).
Lower new construction for multiple dwellings in Halifax was the largest factor in the decrease compared to 2019. In 2020 renovations were lower in outside the city and up in Halifax. In 2020, new construction was up for singles and down for multiple dwelling units in Halifax and up both for singles and multiple dwellings outside the city.
Non-residential construction
In December 2020, non-residential building construction was unchanged at $46.3 million in Nova Scotia (seasonally adjusted). In Halifax, non-residential construction was down 2.4% to $24.2 million.
National non-residential building construction increased 0.4% in December 2020. Four provinces reported increases, with the largest increase in Prince Edward Island (+4.0%). The largest declines were reported in Saskatchewan (-3.3%), Quebec (-1.5%), and Alberta (-1.4%).
In 2020, Nova Scotia's non-residential construction (unadjusted) was down 3.7% over 2019. Halifax's non-residential construction was up 1.6%. Outside the city, non-residential construction was down 9.0%.
National non-residential construction investment decreased 2.3%. The largest declines were reported in New Brunswick (-26.1%) and Saskatchewan (-21.9%). The largest growth was reported in Prince Edward Island (+19.5%) and Manitoba (+8.5%).
In 2020, Nova Scotia non-residential building construction decreases were concentrated in outside the city industrial and commercial but are partially offset with higher Halifax commercial project spending.
RECENT YEARS
Following strong growth in 2019, annual building investment growth declined in Nova Scotia in 2020 as 2020 was an unprecedented year. Building investment declined in several provinces with the largest decline in Saskatchewan compared to the previous year. Building investment grew the most in Manitoba. Trends in building construction investment largely reflect outcomes in the relatively larger residential building construction segment.
Following strong growth in 2019, residential building construction investment growth declined in Nova Scotia in 2020. Residential building construction declined in several provinces with the largest decline in Saskatchewan and British Columbia, while it increased the most in Manitoba and Newfoundland and Labrador compared to the previous year.
Annual growth in non-residential building construction declined in 2020 in Nova Scotia, Newfoundland and Labrador, New Brunswick, Saskatchewan, Alberta, and British Columbia, while it increased in Prince Edward Island, Quebec, Ontario, and Manitoba.
Statistics Canada. Table 34-10-0175-01 Investment in Building Construction
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