tion sector will increase by nearly 4,000
new jobs by 2021. In fact, a substantial de-
cline has been forecasted for residential
building in the next five years. At the mo-
ment, however, residential is slowly mak-
ing a comeback from the current down-
turn.
“The residential sector is a leading indica-
tor for construction, so when we see that
their numbers are starting to pick back
up, we can anticipate that within about a
year and a half to see something similar
in commercial,” Cooper said, adding that
surviving a downturn comes down to rec-
ognizing how cycles in the market work. A
short while ago, when business spiralled
downwards in residential, it took about 18
months for the effects to reach commer-
cial construction. Seeing signs of recovery
in the residential sector, the SCA is confi-
dent that the downturn will last no longer
than two years.
In the meantime, it is a great time to invest
and build in Saskatchewan due to competi-
tive pricing and low interest rates. Reduced
work availability and increased competition
are ensuring low prices and faster project
completion times since there are more la-
bourers available for work. “We’re really
encouraging people to take advantage of
the opportunity and invest right now while
it provides them a great window of time to
be most successful,” Cooper said.
In this scenario, the benefits are mutual.
Once the economy bounces back up, pric-
es will increase accordingly, making the
present an optimal time for investment.
JUNE 2016
H
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