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Canada’s Construction Costs Forecast 2021

Moving Beyond the COVID-19 Pandemic

About This Publication

Now more than a year into the global COVID-19 pandemic, we have enough data to estimate reconstruction cost changes for 2021 and beyond.

The results are not what you expect during a global pandemic: Normac’s research shows that all regions of Canada can expect residential construction cost increases that outpace those of recent years or standard inflation.

What’s Inside

  • Total Insurable Value increases
  • Delays caused by COVID-19
  • Lumber and demolition costs
  • How demand for housing impacts construction costs and other factors
  • Tracking fluctuations to value
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