In 2022, $23 million was spent on new residential construction and $113 million on renovations on the North Shore. (Photo APCHQ)
Statistical data on housing spending in 2022 shows an increase of 62% in new construction and 41% in renovation for the listed administrative region with the smallest population. “The surprising Côte-Nord is seeing the strongest growth in Quebec by far, ahead of Abitibi and Saguenay-Lac-Saint-Jean,” says APCHQ director Paul Cardinal.
The Côte-Nord stands in contrast to the rest of Quebec, notes the Quebec Construction and Housing Professionals Association, in light of information from the Institute for Statistics. Investments in new construction fell by 7% across the province, mainly due to the situation in Montreal, Laurentides and Lanaudière.
Quebec saw a 21% increase in renovation spending. The eastern regions lead the way with the increase in renovation spending, namely Côte-Nord (+41%), Saguenay-Lac-Saint-Jean (+39%) and Gaspésie-Îles-de-France. -la- Madeleine (+38%).
Growth region, but…
With $23 million spent in 2022 on new residential construction and $113 million on renovations, North Shore is making progress compared to 2021, but remains Quebec’s lowest-investment region in these areas. In comparison, in 2022 $100 million was spent on new construction and $261 million in Gaspésie, a region scarcely more populous than the Côte-Nord.
In Quebec, investment in new housing has declined, but a new record has been set for renovations. $39.1 billion was spent in 2022, an 8% increase compared to 2021.