Investment in new residential building construction across British Columbia increased 14% year-over-year to January, according to Statistics Canada data released March 21.

A total of $695 million was spent on the construction of new homes in the province in January 2016, compared with $608 billion in January 2015. The biggest percentage increase was a 30% jump in new apartment building construction, from $223 million in January 2015 to $291 billion.

Single-detached home construction increased 4% over the period, from $303 million last year to $315 million in January 2016.

Across Canada, new home construction grew at a much slower pace, with a 3.9% year-over-year increase to $3.7 billion. A 20% increase in the construction of apartment buildings was offset by a 4% drop in single-detached homes and 16% decrease in duplexes.

The nationwide increase was driven almost entirely by growth in Ontario and B.C. In the 12 months to January, home construction in Ontario 23% to $1.5 billion. All other provinces saw drops in construction with the exception of Quebec, where construction inched up 1.1%. Construction in Alberta and Saskatchewan fell 19% and 30%, respectively, over the period.

StatsCan : New Home Construction Surged 14% in BC Year-Over-Year in January by Emma Crawford Hampel | Business in Vancouver