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Industry Lens: Residential Construction—April 2021 The Conference Board of Canada, April 19, 2021 Website by Robin Wiebe

Industry Lens: Residential Construction—April 2021

The Conference Board of Canada, April 19, 2021
Website by Robin Wiebe

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This online report examines the short-and medium-term economic and profitability outlook for Canada’s residential construction industry. Document Highlights Low mortgage rates, the increased appeal of properties in outlying areas, and strong population growth are colliding to create strong residential demand, suggesting a decent outlook for this industry. Homebuilders are busy replenishing low stocks of completed and unsold units, particularly singles and apartments. The volume of units under construction is near a record high in many cities. Construction firms face high and rising prices for lumber—often a house’s biggest input. A shortage of tradespeople presents a longer-run threat for the industry. Builders have endured stagnant productivity in recent years, but more use of digital technology and prefabricated dwelling components could provide future boosts.

This online report examines the short-and medium-term economic and profitability outlook for Canada’s residential construction industry.

Document Highlights

Low mortgage rates, the increased appeal of properties in outlying areas, and strong population growth are colliding to create strong residential demand, suggesting a decent outlook for this industry.
Homebuilders are busy replenishing low stocks of completed and unsold units, particularly singles and apartments. The volume of units under construction is near a record high in many cities.
Construction firms face high and rising prices for lumber—often a house’s biggest input.
A shortage of tradespeople presents a longer-run threat for the industry.
Builders have endured stagnant productivity in recent years, but more use of digital technology and prefabricated dwelling components could provide future boosts.

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