VANCOUVER, Jan. 8, 2013 /CNW/ - Private sector investment and ongoing infrastructure spending will lead the way in keeping construction workloads steady with minimal price increases in 2013, according to BTY Group's annual Market Intelligence Report on construction costs across Canada.
"We expect reasonably healthy levels of activity across Canada despite a residential slowdown across most of the country and lower than expected growth in the U.S.," said Joe Rekab, Managing Partner at BTY Group. "Strong private sector investment in energy, resource and commercial-retail - with continued infrastructure spending - should offset a cooling housing market in every province except B.C. and Alberta."
- In Ontario, the workload will be stable, buoyed by resurgent commercial development and a sustained, if slightly less ambitious, infrastructure program, horizontal as well as vertical.
- Record oilsands investments over the past two years will help sustain Alberta's building boom and drive Canada's strongest residential growth.
- Sustained investment in health care and transportation and multibillion-dollar mining and energy projects will keep Quebec on a solid footing.
- Saskatchewan will become Canada's growth leader with continuing strong investment in resources and energy development, and high levels of in-migration.
- BC will see balanced growth, with health-care, residential activity and increased private sector investment in non-residential construction.
BTY Group has been publishing its annual industry review of construction cost forecasts across Canada since 2003. Over the years, the Market Intelligence Report has earned a reputation in the development, property and finance communities for crucial insight on factors behind the changing marketplace and reliable unit rate cost projections for the coming year. A full copy of the report can be accessed on BTY Group's website at www.bty.com.
About BTY Group
With eight offices across the country and more than three decades of experience in serving the construction and development industries, BTY Group is one of Canada's leading providers of Cost Management, Project Monitoring and Public- Private Partnership Advisory services.
Canada, construction, development, cost escalation, price increases, forecast, 2013, transportation, energy, mining, residential, non-residential, health care, BC, Alberta, Saskatchewan, Ontario, Quebec
SOURCE: Independent Contractors and Businesses Association of BC (ICBA).