The Construction Industry in BC Beyond COVID-19
Canada and the rest of the world continue to fight and flatten the curve of COVID-19 effects but economic recovery remains slow. The rise of the pandemic has been apparent in the first and second quarter of last year but in the third quarter of 2020, recovery signs have been seen. The construction industry in British Columbia has been facing an economic crisis since the pandemic began last year but the engineers and designers remain optimistic that the construction industry will still grow.
The COVID-19 pandemic has had a significant effect on the construction sector which is critical to economic cycles.
BC construction output is expected to fall somewhat because of the COVID-19 rules and regulations of social distancing and sanitizing. However, as long as the real estate inventory remains low and interest rates remain low, there will be pressure to increase building. This blog talks about three areas of a recent changes for contractors in BC that are happening now and will continue beyond COVID-19.
- Resilience, collaboration, and contract structuring: Contractors in BC should be strong enough to overcome the challenges that have come with coronavirus. This ensures that they achieve their goals easily by delivering projects and keeping sites open.
- Management of supply chain: During the early months when the pandemic challenged many contractors, they were unable to source basic materials like bricks, cement, and sand. Factories that produce construction materials have come up with improved strategies to deliver building materials to the contractors.
- Innovation and diversification: BC contractors should embrace innovation and diversification in their construction industry with both materials and the changing energy sector. This will make their construction work easier and less complicated when delivering services to their clients.
Economic recovery everywhere and including the construction sector will improve with increasing rates of vaccination in all countries.
Westerly Restoration provides building envelope integrity inspections and restoration in Surrey, BC and the entire Greater Vancouver area. If you have any questions about this article or would like to talk to us about building envelopes or restoration, please call us at (778) 881-2877 or use the convenient form on our Contact page.