economy
NON-RESIDENTIAL BUILDING INVESTMENT SOARS IN METRO VANCOUVER The magnitude of infrastructure investment is one predictor of an economy’s future potential to grow, and it appears Metro Vancouver is on the right track.
During the past year, where the economic theme has been slower growth and greater uncertainty, Canada made modest gains in the value of residential building investment (+4% between Sept. 2018 and Sept. 2019). It made stronger gains, however, in the value of non-residential investment (+6%; this covers commercial, industrial, institutional, and governmental infrastructure). Non-residential investment growing faster than that of residential can be viewed as a positive for the Canadian economy, especially considering the 11% year-over-year gain in the value of commercial building investment
over the period. More commercial investment means more jobs now and more space for jobs in the future. In comparison, the value of residential investment in Metro Vancouver fell by 9% over the same period—the result of pre-sale market ups-and-downs from previous years— however it also experienced 48% growth in non-residential investment. The increases in institutional and governmental (52%), commercial (50%), and industrial investment (16%) won’t last indefinitely, but it is a sign that the region is creating employment capacity for years to come.
BIG INVESTMENTS IN METRO VANCOUVER’S FUTURE
50%
48%
40%
30%
20%
10%
8%
8%
6%
6% 4%
1%
0.0%
-2%
-4%
-5%
-7%
-8%
-10%
-9%
-10%
-20%
EDMONTON VANCOUVER CALGARY
CANADA NON METRO
CANADA TOTAL $10,760.8 $4,881.1
CANADA METRO $8,436.3 $3,891.6
TORONTO
$278.5 $231.1
$541.0
$529.1 $293.3
$989.5
$920.4
SEP VALUE MILLIONS
$1,067.8
$2,324.5
$2,298.5
NON RESIDENTIAL
RESIDENTIAL
DATA: CURRENT DOLLARS, SEASONALLY-ADJUSTED
SOURCE: INVESTMENT IN BUILDING CONSTRUCTION, STATISTICS CANADA
6
rennie.com
Made with FlippingBook - professional solution for displaying marketing and sales documents online