The construction industry in Canada has been growing for the last 20 years, largely due to the rise of the Canadian economy and population growth from strong immigration policies. As a result of this, there is a growing need for more homes and multi-dwelling units to be constructed to meet this rising demand.
As a whole, the net Canadian population growth between 2016 and 2021 was an average of 5.2%, and the areas seeing the most growth are Prince Edward Island (PEI), Ontario, Nova Scotia, Alberta, and New Brunswick. PEI topped the list with an average population density increase of 8%, as result of the low cost of living and the island’s family friendliness. Ontario came second with an average increase of 5.8%, which was primarily due to its high paying job opportunities and a great social scene from a diverse population. Nova Scotia is third on the list with a population increase of 5%, resulting from its strong attraction towards university students in search of higher education and a great sense of community across the province. The fourth city on the list is Alberta, which boasts an average population density increase of 4.8%, as a result of its high paying jobs and affordable housing prices. New Brunswick comes fifth on the list with a population density increase of 3.8%, resulting from its low housing cost and great outdoor scenery.
Property developers and general contractors have been tasked with creating more affordable homes to satisfy the demand in the housing market as a result of the growing population, and they are stepping up to meet this demand by increasing the pace at which new homes are being built. At the end of 2021 a total of 1.3 million homes were under construction across Canada, and as the population continues to grow there will be more pressure for property developers and general contractors to increase output to satisfy this demand. Although we are seeing a shortage of skilled trades across the country due to young professionals prioritising corporate jobs over skilled work, we are optimistic this shortage will be reversed as government institutions continue to promote this career path in schools across the country. Another way general contractors are stepping up to meet this demand is by completing home renovations projects, to ensure existing homes are refurbished to increase its lifespan, hence creating less pressure on the housing market. This is a balancing act as general contractors have to coordinate with electricians, communication technicians, and other trades to ensure they meet the demand in both new home construction and home renovation projects.
We anticipate to see more of this trend in the construction industry as Canada looks to increase its population growth through numerous immigration programs, and we are confident property developers and general contractors will step up to the challenge of ensuring the continuous supply of new homes to meet this demand. This will be a team effort between all trades in the construction industry such as plumbers, electricians, and communication technicians to ensure they work together to achieve this collective goal.
Final Copy
The construction industry in Canada has been growing over the last 20 years, largely due to the rise of the Canadian economy and population growth from strong immigration policies. As a result of this, there is a growing need for more homes and multi-dwelling units to be constructed to meet this rising demand.
As a whole, the net Canadian population growth between 2016 and 2021 was an average of 5.2%, and the areas seeing the most growth are Prince Edward Island (PEI), Ontario, Nova Scotia, Alberta, and New Brunswick. PEI topped the list with an average population density increase of 8%, as result of the low cost of living and the island’s family friendliness. Ontario came second with an average increase of 5.8%, which was primarily due to its high paying job opportunities and a great social scene from a diverse population. Nova Scotia is third on the list with a population increase of 5%, resulting from its strong attraction towards university students in search of higher education and a great sense of community across the province. The fourth city on the list is Alberta, which boasts an average population density increase of 4.8%, as a result of its high paying jobs and affordable housing prices. New Brunswick comes fifth on the list with a population density increase of 3.8%, resulting from its low housing cost and great outdoor scenery.
Property developers and general contractors have been tasked with creating more affordable homes to satisfy the demand in the housing market, and they are stepping up to meet this demand by increasing the pace at which new homes are being built. At the end of 2021 a total of 1.3 million homes were under construction across Canada, and as the population continues to grow there will be more pressure for property developers and general contractors to increase output to satisfy this demand. Although we are seeing a shortage of skilled trades across the country due to young professionals prioritizing corporate jobs over skilled work, we are optimistic this shortage will be reversed as government institutions continue to promote this career path in schools across the country. Another way general contractors are stepping up to meet this demand is by completing home renovations projects, to ensure existing homes are refurbished to increase its lifespan, hence creating less pressure on the housing market. This is a balancing act as general contractors have to coordinate with electricians, communication technicians, and other trades to ensure they meet the demand in both new home construction and home renovation projects.
We anticipate to see more of this trend in the construction industry as Canada looks to increase its population growth through numerous immigration programs, and we are confident property developers and general contractors will step up to the challenge of ensuring the continuous supply of new homes to meet this demand. This will be a team effort between all trades in the construction industry such as plumbers, electricians, and communication technicians to ensure they work together to achieve this collective goal.