PEI

Single family home building more than doubles on P.E.I.

Investment in single family dwellings on Prince Edward Island more than doubled in the first half of the year, according to a new report from Statistics Canada.

Total growth in investment more than three times the national average

Single family home construction is leading the residential sector. (The Associated Press)

Investment in single family dwellings on Prince Edward Island more than doubled in the first half of the year, according to a new report from Statistics Canada.

Spending on new housing on the Island is far outpacing the national average. In total, investment in the first half of the year is up 25.4 per cent, as compared to 7.4 per cent nationally.

Second quarter investments on P.E.I. were up 31.6 per cent to $92.9 million.

Single-family dwellings are driving the increase, with investment up 112.4 per cent. At the other end of the housing spectrum, investment in apartments has actually fallen, down 33.6 per cent.

Manitoba has the second highest increase in residential construction this year, up 17 per cent.

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