Articles tagged with "Forecast"

A study by the Observatoire québécois des inégalités, alongside several public health departments, reveals that the housing crisis in Quebec costs the economy 4.2 billion dollars. Titled 'The Collective Cost of the Housing Crisis in Quebec,' the report presents alarming findings that demand attention. The housing crisis affects not only the economy but also various facets of social and community life.

The Canadian Real Estate Association (CREA) reported a 1.1% increase in national home sales for August, marking the best August since 2021. Significant sales activity was observed in Montreal and Ottawa, with both regions experiencing over a 12% annual increase in transactions. The housing market edged towards a sellers' market with a slight 2.6% increase in new supply and a decrease in the sales-to-new listings ratio to 51.2%. The national average home price also rose by 1.8% year-over-year, despite a slight month-over-month price index drop.

Construction costs in Quebec have significantly increased, growing almost twice as fast as elsewhere in Canada. The price hike is 4.3% in Quebec compared to 1.8% in the rest of the country. This situation places industry stakeholders in a challenging position, caught between managing rising costs and market demands.

The Quebec Construction Commission (CCQ) released a statement noting that economic activity in the construction industry remained strong in 2020. The activity's resilience has been maintained despite challenges, highlighting the construction sector's importance to the local economy.

According to a CCQ press release, despite a downturn expected in 2023, the construction sector is anticipated to remain robust. This stability is attributed to ongoing and pre-planned projects. The demand for workforce and previous investments continue to support the industry. The outlook remains optimistic notwithstanding economic uncertainties.

Luc Poirier suggests that the government could make a higher profit if it waits a few years before selling the land intended for the Northvolt factory. By holding onto the property, the value may increase, offering the government a better return on investment in the future. This implies potential strategic planning in managing government-owned real estate assets for industrial projects.

Desjardins Group has announced an agreement to acquire Guardian Capital in a transaction valued at $1.7 billion. This acquisition, expected to conclude in early 2026, will increase Desjardins’ assets under management to $280 billion and strengthen its position in the asset management sector both in Canada and internationally. Desjardins President Guy Cormier views this move as a strategic enhancement of their capabilities and reach, while Guardian CEO George Mavroudis highlights the transaction's premium return for shareholders and strategic alignment benefits.

The construction project for the new Enfant-Jésus hospital complex is expected to cost an additional $418.3 million. This increase is attributed to a significant rise in construction costs since 2019, coupled with increased wages. These factors are heavily impacting the budget for this healthcare infrastructure development. The project highlights the economic pressures facing the construction industry.

A partnership has been established to develop wind power in Eastern Quebec. The project could see investments reaching up to $18 billion and is expected to generate 6,000 megawatts (MW) of power. This initiative highlights the potential for substantial economic and energy gains in the region.

This autumn, 44 major construction sites in Montreal will disrupt traffic, causing significant delays for motorists. Of these, 19 are located directly in Montreal, impacting areas including downtown, the Louis-Hippolyte-La Fontaine tunnel, and the metropolitan highway. Authorities recommend using public transport to avoid congestion, especially as work also affects the metro blue line extension and other major roads. The construction, mostly occurring during nights and weekends, is part of ongoing urban development projects affecting both Montreal and surrounding areas.

In the Greater Montreal area, 44 major construction sites will take place in fall 2025, affecting traffic and requiring partial closures in 70% of the cases. Notable areas impacted include downtown Montreal and key highways such as Highway 25, 15, 20, and the Metropolitan Highway. The work is part of long-term infrastructure updates, with significant improvements expected by 2030. Local authorities emphasize the importance of planning travel in advance due to potential traffic congestions.

The Montreal Port Authority (MPA) plans to begin preliminary construction work on the Contrecœur expansion of the Port of Montreal by late September 2025, contingent upon receiving final approvals. The expansion project aims to strengthen Canada's logistics network and enhance supply chain capacities, with operations starting by 2030. The initial phase will prepare the site for significant construction activities planned for 2026, focusing on increasing container-handling capacity.