News Details

New Analysis Reveals a Spike in Reconstruction Costs for Canada

14 January 2021

Opta’s recent analysis reveals a jump in reconstruction costs by nearly 5% across Canada in 2020:

  • Increases were more pronounced in the Western provinces due to CAT events and material shortages
  • Lumber prices skyrocketed up to 600% in the summer months triggered by home renovations/DIY activity
  • Number of authorized residential permits went up by 20%
  • Nearly 1 in every 20 homes inspected by Opta Precise Services were undergoing significant renovations during 2020

How do these changes impact your portfolio?

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