Canada’s construction industry saw slower activity in the second quarter of 2016 with commercial and industrial activity falling and housing moderating.
A survey of industry professionals by surveyors’ body RICS shows that despite weakness most respondents are optimistic about the year ahead.
Twenty-eight per cent of respondents reported a drop in private industrial workloads in Q2 2016 and 16 per cent reported decline in commercial workloads. In construction for the energy, oil and gas sectors there was a drop reported by 55 per cent of respondents. Infrastructure projects remain strong.
Although activity among the housing sector moderated, RICS’ survey shows that the Toronto condo market is “still booming” especially downtown.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
More market watch: