Alberta posts largest new housing spending decline

Construction falls by $135 million

Alberta homebuilders were a little more cautious in January, as new housing construction fell by $135 million in January compared to the same month last year, according to Statistics Canada.

By percentage, Alberta's 16 per cent decline placed it around the middle when compared to other provinces (spending in Saskatchewan fell by 31 per cent). Based on dollar figures, however, the provincial decline was tops in the country.

Nationally, spending on new residential building construction totalled $3.9 billion in December, up 4.8 per cent from the same month a year earlier. The increase at the national level came mainly from higher investment in apartment and apartment-condominium building construction, up 23.9 per cent year over year to $1.4 billion. Spending on row house construction also contributed to the advance, up 3.4 per cent to $348 million.

Ontario, British Columbia and Quebec reported the largest increases, with investment in Ontario increasing by 23 per cent or $290 million.