The renovation season has just begun in Quebec and DIY enthusiasts of all kinds are currently benefiting from lower prices than those of last year on most of the necessary materials.
• Read also: The prices of building materials will fall this year, according to the big boss of the group which has the hardware store BMR
“It’s time to renovate. We have the quantities and we have the prices. It’s THE time to buy to do the renovations from A to Z,” pleads Eric Audy.
At the head of two BMR hardware stores in the Saguenay–Lac-Saint-Jean region, he is well placed to see that the price of wood is in a dip. And that prices are likely to rise again soon.
“Last year, there was a price increase in July and August. It may be like that again this year, ”he offers without giving details.
In April, the price of a 2x4x8 of wood averaged $3.49 in Quebec, compared to $5.52 last June. The drop is less marked in the case of plywood, but still: from $73.56 to $54.97 for a piece of 4x8x3/4.
As soon as the snow melts, exterior renovations resume: expanding the house, building a patio, a pergola or a shed, there is no shortage of projects.
“It’s not like the last three years, which have been historic, but people are still there this year,” says Nicolas Couture, owner of four Timber Mart stores in the Eastern Townships.
This entrepreneur finds the fall in the price of wood “quite impressive” and is not so sure that it will go back up soon.
“We don’t know how it’s going to be after the construction holiday. Some construction contractors have work until next year, others are half empty,” he says.
Stabilization period
Demand may not be there in late summer and fall, which could keep prices low.
It will not be residential construction that will drive prices higher this year, as the forecasts are rather poor in this sector.
Photo from Scotia website
The Quebec construction industry will return to growth next year, predicts René Lalonde, of Scotiabank
The decline will be 5% in construction and renovations in 2023 and 7% for housing starts, spoke on Thursday René Lalonde, of Scotiabank, during the annual conference of the Association québécoise de la hardware et desmateriels de building (AQMAT).
“The sun will return in 2024 only with an expected increase of 10% for construction and renovations and 3.8% for housing starts,” said the director of modeling and economic forecasts of the financial institution.