Construction in Canada: Bright Light Amid Global Gloom
BTY Group's Market Intelligence Report for 2012 forecasts steady workloads with low escalation
Diversification and continued strong investment in the transportation, energy, mining and healthcare sectors will help keep construction workloads steady with low escalation in 2012, according to BTY Group's annual Market Intelligence Report on construction costs across Canada.
"Even with lower than expected growth in the U.S., worries over European bailouts and slower growth in residential construction in most of the country, we expect reasonably healthy levels of activity across Canada," said Joe Rekab, Managing Partner at BTY Group. "The story for 2012 is that strong energy, resource and infrastructure investment should balance a cooling housing market in almost every province, with the exception of BC and Alberta both of which will see gains in the housing market over the previous year."
• In Ontario, an ambitious horizontal and vertical infrastructure program will lead, but concerns over deficit spending could put some projects on hold.
• Oilsands investments of $24 billion in 2011 will fuel Alberta's industry, and drive Canada's strongest residential growth.
• New multibillion-dollar mining projects and on-going energy, healthcare and transportation projects will keep Quebec busy.
• More than $10 billion in new potash projects will boost construction in Saskatchewan.
• BC will see both strong residential activity and increased private sector investment in non-residential construction.
BTY Group has been publishing its annual review of construction costs across Canada since 2003. Over the years, BTY Group's Market Intelligence Report has earned a reputation in the development, property and finance communities for crucial insight on factors behind the changing marketplace and reliable unit rate cost projections for the coming year.
A full copy of the report can be accessed on BTY Group's website at www.bty.com.