Building & Construction - Business Research Insights’ Post

📊 Investment in Residential Building Construction - September 2024 🏗️ As of September 2024, Canada saw a 2.9% increase in residential construction investment compared to August 2024. Here's a breakdown of the data: 🔺 Provincial Changes: Newfoundland & Labrador (+18.0%) Prince Edward Island (+8.2%) Quebec (+3.3%) Ontario (+4.0%) Alberta (+3.6%) British Columbia (+1.7%) Yukon (+70.6%) Northwest Territories (+11.8%) Nunavut (+5.5%) 🔻 Decreases: Nova Scotia (-4.4%) New Brunswick (-6.9%) Saskatchewan (-2.4%) 💰 Total Investment in Canada: $15.2 billion Ontario: $6.1 billion Quebec: $3.1 billion British Columbia: $2.4 billion 🏡 Investment by Home Type (Year-over-Year Change): Single Homes: $2.7 billion (-0.2%) Semi-Detached Homes: $234 million (+7.0%) Row Homes: $802 million (-1.0%) Condos & Rental Apartments: $3.9 billion (-1.0%) This infographic reflects ongoing trends in the housing market and offers insights into regional growth and market share shifts in construction. https://lnkd.in/gx3qs6vg

The housing affordability story continues to dominate headlines in Australia – and the cost of construction will play a pivotal role in determining how the nation’s future unfolds. Our Australian construction material price outlook combines our market intelligence with a range of reliable and robust data sources to provide quarterly construction material price indicators for the construction sector. Read more: https://lnkd.in/gnx622cX #AustraliaCRE #ConstructionCosts #AustraliaHousingAffordability

Somewhat good news for builders and consumers for now - the rate of escalation of housing construction costs is now at its lowest level in more than two decades, according to the latest data from CoreLogic. But costs remain much higher compared with before COVID. John Bennett Tim Lawless #construction #australia #housing #property https://lnkd.in/gfmRDYPA

📈 Canadian Building Construction Investment Surges in March 2024 Key highlights from the latest report: - Overall investment up 4.5% to $20.4 billion - Residential sector increased 5.4% to $14.3 billion - Non-residential sector grew 2.3% to $6.1 billion 📊 Single-Family Home Investment: - Up 6.5% to $7.3 billion - 8th consecutive month of growth 🏗️ Q1 2024 Summary: - Building construction investment rose 1.0% to $59.7 billion - Residential investment up 1.4% to $41.6 billion - Non-residential edged up 0.2% to $18.1 billion The continued growth in single-family home investment signals strong demand in the housing market. What factors do you think are driving this trend, and how might it impact the broader economy? Get the full details with BJ Electric here: https://bit.ly/3zij9rp

It was a pretty poor month for investment in building construction this past July. In total, there was a decline of 1.7 per cent to $20.9 billion, according to Statistics Canada. Both residential and non-residential saw declines. Overall, investment in residential building construction decreased 2.2 per cent to $14.6 billion in July. Specifically, the single-family home and multi-unit sectors decreased 2.2 per cent. In the single-family unit sector, 11 provinces reported declines, with only Saskatchewan and Nunavut recording increases. In the multi-unit sector, Quebec recorded the largest decline. Investment in non-residential construction declined 0.4 per cent to $6.3 billion in July. The industrial component also decreased 2.1 per cent to $1.3 billion in July, marking its fourth consecutive monthly decline. Declines were also seen in seven other provinces and all three territories.

On April 19th, Statistics Canada released data indicating a decrease in investment in building construction for the month of February. The total investment declined by 1.1% to $19.3 billion compared to the previous month, with drops in both residential and non-residential sectors. When considering inflationary effects, accounting for it using a constant dollar basis (with the base year being 2017), the decline in investment becomes more pronounced with a decreased investment in building construction of 1.2%, dropping to $11.9 billion.

Pace Of Housing Construction Must Double In Canada To Meet Future Growth: RBC #construction #building #towers #residential #residentiaconstruction #buildinghomes #buildingtowers #homebuilding #canadaconstruction #growth

Canada's building construction sector shows strong growth, according to the latest data: ✅ Total investment up 2.8% to $21.4 billion in June ✅ Residential sector leads with 3.8% increase to $15.0 billion ✅ Non-residential sector edges up 0.4% to $6.4 billion ✅ Year-over-year growth of 10.0% Key highlights: ✅ Quebec drives residential growth for second consecutive month ✅ Multi-unit construction investment up 6.0% ✅ Commercial component leads non-residential growth ✅ Q2 2024 marks the fourth consecutive quarterly increase, with total investment reaching $62.8 billion, up 7.2% year-over-year. These figures reflect the robust health of Canada's construction industry, driven by strong demand in both residential and non-residential sectors. Read further with BJ Electric for more details: https://bit.ly/3XmjUbn

Partly due to high interest rates which led to more expensive costs of construction, weighing on the demand for building projects. Higher US Fed and global interest rates since 2022 in an effort to slow down inflation also slowed down global investments, trade, and other economic activities that also slowed down construction projects and permits. Higher property prices in recent years could have also weighed on construction permits since higher land and other property prices tend to reduce demand for residential and nonresidential properties, on top of higher construction costs. For the coming months, the series of anticipated rate cuts in could help reduce borrowing costs or both property developers and buyers of property, thereby could support some pick up in building permits data, as would also be supported by favorable demographics and the housing backlog of more than 6 million units in recent years. https://lnkd.in/gQpPB8vx

Homebuilding activity weak as construction cost increases remain Australia’s residential construction industry is facing pricing and productivity challenges, which is limiting the amount of new housing that is being built. The Cordell Construction Cost Index, which tracks the change in the cost of labour and materials to construct a low set, detached house, rose 1.0% in the September quarter. This was up from 0.5% in the June quarter, but well below the peak of 4.7% in the September 2022 quarter (see graph). Nevertheless, challenges remain for new housing supply, according to CoreLogic's head of residential research, Eliza Owen. “The stickiness in construction costs without an offset in increased productivity is likely to lead to less project feasibility and low approvals. The particularly low levels of apartment development will also mean a higher ratio of demolitions to dwellings completed, and lower net completions than in the 2010s,” she said. “There are some signs of capacity easing at the early stages of construction, such as in commencement times for detached houses, but more must be done to increase the capacity and productivity of the sector.” #property #realestate #homeloans