BuildForce Canada 10 year forecast in Around Town
Residential construction in B.C. has declined since its 2021 peak, but BuildForce Canada forecasts modest growth to offset a slowdown in non-residential activity. Their 2025–2034 outlook highlights rising renovation activity and fluctuating non-residential investment, with overall growth expected to moderate into 2031.
Residential investment is projected to rise steadily from 2026, driven by easing interest rates and housing demand. The industry must recruit over 380,000 workers by 2034 to meet demand and replace retirees, but even with strong youth recruitment, a shortfall of over 100,000 workers is possible.
The report also identifies labour market pressures, including construction at or near peak activity levels across the country, lack of workforce mobility due to local demand, the need for mentorship of young workers, and the potential for skill gaps if older workers are not able to transfer their knowledge and skills.
The full article is online at businessexaminer.ca/victoria-articles/item/small-increase-expected-in-residential-construction.
Building Links Construction Reports and Statistics: The weekly #1 construction projects resource for 30 years. New and updated projects, permits, tenders, and industry connections for Vancouver Island – Central North, West Coast and Powell River. Helping you build connections so you can build communities! Where are you getting your information from? Support local trades – Subscribe Now!
