About This Publication
Canadian construction costs stabilized in 2024, with moderate increases across residential and non-residential sectors. A weak residential market led to reduced construction output, but a rebound is expected in 2025, driven by lower interest rates, major infrastructure investments, and international trade tensions. Key cost pressures include inflation, incoming tariffs, labour shortages, material price volatility, and disaster recovery efforts.
Given the historical changes in replacement costs and future uncertainty, property owners are urged obtain updated insurance appraisals to avoid gaps in coverage.
What’s Inside
This year’s eBook provides regional construction cost increase estimates along with in-depth analysis of the factors driving these changes, including:
- Economic and policy impacts
The labour crisis and rising wages
Material price volatility
Climate-related rebuilding efforts