Canada’s construction industry is always in motion, but 2025 is shaping up to be a year of subtle shifts and surprising resilience. If you’re a general contractor, you know the numbers matter. But what do they really say about where the market is headed—and how should you respond?
Let’s start with the big picture. According to fresh data from Statistics Canada, total investment in building construction hit $22.2 billion in March 2025, a slight dip of 0.9% from the previous month. Year over year, though, investment grew 5.4%. That’s not just noise; it’s a sign of underlying strength, even as the market adjusts to new realities.
On a constant dollar basis (2017=100), investment stood at $13.2 billion—down 0.8% month-over-month, but up 2.4% year-over-year. The message? Inflation and pricing shifts are real, but the sector is still growing in real terms.
Residential vs. Non-Residential: The Push and Pull
Residential construction saw a 1.8% decline in March, landing at $15.3 billion. The culprit? Multi-unit construction, which dropped 3.8% to $8.0 billion. Ontario and Quebec led the slide, but New Brunswick bucked the trend with a $17.2 million gain. Single-family homes, meanwhile, edged up 0.5% to $7.3 billion, with Quebec and Manitoba showing notable growth.
Non-residential construction is where things get interesting. Investment rose for the eighth straight month, up 1.3% to $6.8 billion. Institutional projects led the way (+2.4%), followed by commercial (+1.0%) and industrial (+0.3%). British Columbia and Saskatchewan were the standouts, with B.C. also driving commercial gains.
Quarterly Trends: A Broader Perspective
Zooming out, the first quarter of 2025 saw total building construction investment climb 3.3% to $66.6 billion. Year-over-year, that’s a 6.5% jump. Non-residential investment grew 2.8% to $20.3 billion, with Ontario adding over $400 million. Institutional projects (+5.6%) and industrial (+3.7%) outpaced commercial (+0.8%).
Residential investment for Q1 rose 3.5% to $46.3 billion, with multi-unit construction up 6.5%. Single-family homes? A modest 0.2% increase. The takeaway: demand for multi-unit housing is still strong, but single-family growth is leveling off.
What Does This Mean for General Contractors?
Let’s get practical. If you’re bidding on projects in Ontario or Quebec, expect fierce competition in the multi-unit space—but keep an eye on single-family opportunities in Manitoba and Quebec. In B.C. and Saskatchewan, non-residential work is heating up, especially in institutional and commercial sectors.
Are you seeing more public sector RFPs? That’s no accident. Institutional investment is on the rise, and contractors with experience in schools, hospitals, or government buildings may find new doors opening.
And don’t ignore the regional nuances. New Brunswick’s uptick in multi-unit investment could signal emerging opportunities for nimble contractors willing to look beyond the big provinces.
Actionable Insights for 2025
- Track regional trends: Don’t just follow national headlines—dig into provincial data to spot hot markets.
- Balance your portfolio: With multi-unit and institutional projects leading growth, diversify your bids accordingly.
- Watch inflation: Constant dollar growth is slower than nominal, so keep a close eye on your cost estimates and contracts.
- Leverage technology: Project management tools like Billdr PRO can help you stay agile as the market shifts.
2025 isn’t about dramatic swings—it’s about subtle shifts, smart positioning, and reading between the lines. The numbers tell a story, but it’s up to you to write the next chapter.
Source: Statistics Canada, May 2025. For more details, visit the Statistics Canada Construction Portal.
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