Steve Payne
Don’t feel like a small fry: You’re part of a $53-billion industry
Canadian ContractorRenovation spending across Canada was up 6 per cent in the first half of this year, Scotiabank economists report
“The HGTV Effect,” someone once called it. We’re not sure HGTV deserves THAT much credit.
But whatever has propelled it (steep housing price increases, for one), the home renovations industry remains very healthy in Canada, with all provinces reporting increases in reno spending except for Alberta.
Home renovation spending is expected to hit $53-billion in Canada this year, up a healthy 6 per cent in the first half of 2015, versus the same period last year. Renovation spending is very close to spending on new homes. This according to Scotiabank’s “Global Real Estate Trends” report, published Oct. 27, 2015. It’s an interesting read.
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