Nova Scotia has recently seen a surge in housing construction activity, with the province leading the Atlantic region in both single and multiple dwelling starts between March and August 2024. Nova Scotia recorded the highest number of average starts in both categories, with 1,788 single dwelling starts and 5,453 multiple dwelling starts, followed by New Brunswick. Prince Edward Island and Newfoundland & Labrador. From January 2022 to August 2024, Nova Scotia consistently outperformed its Atlantic counterparts in single dwelling starts, and since mid-2023, it widened the gap in multiple dwelling starts.
In August 2024, Halifax saw the highest number of completions and dwellings under construction, particularly in apartments and multi-unit dwellings. Building permit values have increased significantly from 2017 to 2024, with housing construction, particularly multiple dwelling permits, rising at a faster rate than any other segment of the construction industry.
Nova Scotia’s growing population, which reached 1,076,374 in July 2024, is fueling housing demand. The province’s labour force totaled 550,000 people as of August 2024, with a decrease in unemployment to 6.7% as employment rose faster than the labour force. Women+ make up 50.5% of the population, while men+ represent 49.5%. These demographic and employment shifts reflect the province’s expanding housing needs.
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Data analyzed and report prepared by Zainab Azhar (Association of Industry Sector Councils.)