Plumbing + HVAC Magazine’s Post

Investments in building construction declined 0.9 percent to $19.7 billion in January, according to Statistics Canada. The residential sector saw a 1.4 per cent decline, while the non-residential sector saw a slight increases, up 0.2 per cent.

Investment in building construction rose 2.1 per cent to $21.6 billion in September, following a 0.2 per cent increase in August, reports Statistics Canada. Both the residential and non-residential sectors saw increases. Specifically, investment in building construction in the residential sector rose 2.9 per cent to $15.2 billion. Increases were recorded in seven provinces and three territories, led by Ontario (up $232.1 million). In the non-residential sector, construction investments rose slightly, up 0.3 per cent to $6.4 billion in September. Industrial and commercial components increased, up 1.3 per cent and 0.4 per cent, respectively.

Investment in building construction increased 4.5 per cent to $20.4 billion in March, reports Statistics Canada. Overall, investment in the residential building construction sector increased 5.4 per cent to $14.3 billion, while the non-residential sector increased 2.3 per cent to $6.1 billion in March.

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

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.

Despite rebounding strongly from a c.15% Covid-driven decline in 2020 and exceeding 2019’s activity levels in 2022 and 2023, the UK’s construction sector is forecast to see an overall real spend contraction of -2.1% in 2024 according to PwC UK’s latest Construction and Housebuilding Outlook.

The Australian construction sector is experiencing a gradual stabilisation in building costs after the disruptions caused by the pandemic, according to CoreLogic. That’s after Corelogic’s Cordell Construction Cost Index (CCCI) saw a slight 0.8% increase in the cost of building a new home, following a similar rise in the December quarter.   CoreLogic economist Kaytlin Ezzy said this marks a steady return to normalcy, with the annual rise in the CCCI now at 2.8%—the smallest since March 2007 and well below the pre-COVID average of 4.0%.   That said, prices remain elevated.   "The strong fluctuations seen in building material costs over the past few years have levelled out and are now within normal margins," she said.   "No clear trend was seen in timber or metal materials, with price changes normalising. Current building costs are still 27.6% higher than at the start of the pandemic, which is likely putting significant pressure on builder's profit margins."   Looking ahead, Ms Ezzy predicts that construction costs will continue to stabilise, influenced by low national dwelling approvals, which have remained below average throughout 2023 and into 2024.

📈 Construction Market Stabilising: Glenigan Reports on Project Starts to October The latest Glenigan | Powered by Hubexo Construction Index, covering project starts in the three months to October, signals stabilisation in the market. While overall project starts were flat compared to the previous quarter and 4% down year-on-year, we’re seeing some encouraging sector performance: 🏠 Residential: Up 1% on the previous quarter, though still 8% lower year-on-year. 🏢 Non-Residential: Positive growth with a 2% quarterly rise, and up 1% from last year. 🛣️ Civils: An 8% quarterly drop, but still 1% higher than last year. These figures suggest a construction sector regaining balance, with modest gains in both residential and non-residential starts. Click through to read the full sector and regional breakdown! 👇 https://lnkd.in/eSNvGaRG #ConstructionIndustry #ProjectStarts #Glenigan #UKConstruction

The latest CoreLogic Cordell Construction Cost Index shows a 1% increase in construction costs nationally during Q3 2024, doubling from the previous quarter's 0.5% rise. Over the past 12 months, costs have risen 3.2%, impacting Australia's housing targets, including the federal goal of 1.2 million new homes by 2029. The steady cost escalation is driven by materials and labour, affecting project feasibility and builders' profit margins, despite a stabilisation in material costs.