Canadians have seen unprecedented challenges over the past two years – from COVID-19 and its evolving complications to increased catastrophic weather events – causing supply chain issues and decreased economic activity.
As a result, building materials and labour costs have increased at an astonishing rate. Statistics Canada’s data as of October 2021 shows an average composite increase in nonresidential construction costs of 8.3% (based on eleven census metropolitan areas across the country) in the last year.
