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2024 Canadian Construction Cost Trends

The impact of labour shortages, material price fluctuations, inflation, and severe weather on Canada’s construction industry.

About This Publication

In 2023, we observed increased stability in our annual valuation fluctuations, underscoring the influence the economy and housing market have on the construction industry. While the residential sector experienced a dip in growth last year, there’s optimism that a rebound will occur; government investments in the transportation, manufacturing, and energy sectors will drive the industry forward into 2025.

What’s Inside

  • 2024 outlook on cost increases
  • Persistent labour shortages
  • Fluctuating material prices
  • Consequences of severe weather
  • Impacts of underlying inflation