The latest outlook for Nova Scotia’s Housing construction sector confirms what industry leaders are experiencing across the province: sustained demand, workforce pressure, and a long-term shift in how and where investment is occurring.
In recent years, household formation in Nova Scotia has been elevated, driven by strong migration from both international and interprovincial sources. Between 2022 and 2024, the province admitted significant numbers of permanent and non-permanent residents, placing upward pressure on housing demand and rental vacancy rates, particularly in the Halifax Regional Municipality.
This surge in demand boosted housing starts, helping to offset higher borrowing costs and driving increased investment in both single-detached and multi-unit construction in 2024.
Beginning in 2026, investment in new housing is projected to moderate; however, construction activity is expected to remain well above historical averages through the end of the decade.
Read the 2025 Buildforce Construction Highlights
Read the 2024 Housing Market Data Report
Data analyzed and report prepared by Zainab Azhar (Association of Industry Sector Councils.)