Latest news with #residentialconstruction
CTV News
5 days ago
- Business
- CTV News
Quebec residential construction workers sign agreement
A construction worker attaches a basket on a crane as they work on the rooftop of a residential apartment building in Levis, Que. on Tuesday, May 20, 2025. Residential construction workers are on strike. (Jacques Boissinot/The Canadian Press) The Construction Union Alliance has ratified its collective agreement for residential construction workers with the Association des professionnels de la construction et de l'habitation du Québec (APCHQ). The union alliance, which represents the five unions in the industry, stated on Thursday that the tentative agreement received the support of 83.4 per cent of voting members. The APCHQ confirmed that employers in the residential sector 'overwhelmingly voted in favour' of the terms negotiated for the 2025-2029 collective agreement. 'The APCHQ welcomes the support of employers in the residential sector for this agreement, which demonstrates a desire for stability, predictability and continuity on construction sites, at a time when Quebec needs to build more, better and faster to respond to the housing crisis,' the Association said in a news release. The new collective agreement, which will come into effect on 27 July, provides for an 8 per cent wage increase upon signing for the year 2025. For 2026, 2027 and 2028, an arbitration board will be called upon to decide, based on the parameters provided, which are a minimum wage increase of 18 per cent for the total of the four years and a maximum of 24.35 per cent. 'We are continuing the arbitration process to represent our residential members effectively, in order to obtain wage increases that will not further widen the gap with other sectors of the industry,' said Alexandre Ricard, spokesperson for the union alliance, in a press release. The new collective agreement also provides for more flexible clauses relating to labour movements, increased travel and room and board expenses, and a 5-cent increase in the allowance for safety equipment in light residential construction. The two parties also agreed to set up a committee to discuss the attractiveness and retention of personnel in the residential sector. The tentative agreement between the union alliance and the APCHQ was reached on June 18, after a three-week strike. The residential sector was the only one of the four construction sectors that had not yet managed to renew its collective agreement. The other three — civil engineering/roadworks, industrial, and institutional/commercial — had managed to renew theirs before the 30 April deadline. The union alliance brings together the five union organizations in the construction industry, namely, in descending order of importance: FTQ-Construction, the Quebec Construction Union, the Quebec Provincial Council of Construction Trades (International), CSD-Construction and CSN-Construction. The Alliance therefore represents 200,000 construction workers, 63,000 of whom work in the residential sector. The APCHQ represents 28,000 companies working in residential construction or renovation. This report by The Canadian Press was first published in French July 17, 2025.
Reuters
6 days ago
- Business
- Reuters
China's mixed commodity data sees soft steel, strong iron ore
LAUNCESTON, Australia, July 17 (Reuters) - China's industrial output and commodity import data for June has thrown up contrasting numbers that add to the challenge of getting an accurate reading on the state of the world's second-biggest economy. Steel production and iron ore imports appear to tell contrasting stories, with steel weakening in June but imports of the key raw material surging to the highest this year. Coal output has increased by 5% in the first six months of the year compared to the same period in 2024, but thermal power generation, which is mainly coal-fired, dropped 2.4% in the first half. Aluminium output rose 3.4% in June from a year earlier and by 3.3% in the first half, but construction materials such as cement and glass both dropped by 5% in June. Part of decoding the seemingly mixed signals from the data is working out whether the numbers are part of longer-term trends, or driven by short-term factors. China's crude steel output fell 3.9% in June from May and by 9.2% from the same month in 2024, which was the largest year-on-year drop since August. The world's largest steel producer manufactured 83.18 million metric tons of crude steel last month, which took first half output to 514.83 million tons, a decline of 3% from the same period last year. Softer steel output fits with the narrative of a still struggling residential construction sector, but it doesn't explain why iron ore imports have been robust. China, which buys about 75% of global seaborne iron ore, saw arrivals jump by 8% in June from May, with imports of 105.95 million tons, the strongest month so far in 2025. However, iron ore imports are down by 3% in the first half of 2025 to 592.21 million tons. Prices explain some of the recent strength in iron ore imports, with Singapore Exchange contracts showing a declining trend since reaching the highest so far in 2025 of $107.81 a ton on February 12. They dropped as low as $93.35 on July 1, but have since recovered to end at $97.95 on Wednesday amid optimism that Beijing's stimulus measures will boost second-half steel demand. However, if annual steel output is to remain around the informal 1 billion tons cap, this implies that second-half production will be weaker than the first half's 514.83 million tons. There is still scope to build iron ore inventories, with port stockpiles monitored by consultants SteelHome dropping to 131.9 million tons in the week to July 11, down from 150.02 million in the same week last year. Another seeming contradiction is coal production, which rose 5% in the first six months of 2025 to 2.4 billion tons. The main use for China's domestic coal is power generation, and thermal power, which is overwhelmingly coal-fired with only a small amount of natural gas, dropped by 2.4%. Total power generation rose 0.8% in the first half, and given that hydropower also dropped by 2.9% it's clear that the rapid deployment of renewables such as wind and solar increased their share. Why would China want to produce record volumes of coal at a time when consumption is falling? There are two main reasons, the first being that it ensures that domestic coal prices remain relatively low, which keeps downward pressure on electricity costs at a time when major power users such as manufacturers are facing uncertainty from the trade war with the United States. The price of thermal coal at Qinhuangdao dropped to a four-year low of 610 yuan ($84.96) in June and while it recovered to 625 yuan on Wednesday, it is still down almost 20% from its 2025 high of 775 yuan in early January. The second benefit from higher domestic coal output is that it cuts the needs for supplies from overseas, and because China is the world's largest importer this means that seaborne prices have been under pressure. Enjoying this column? Check out Reuters Open Interest (ROI), your essential new source for global financial commentary. ROI delivers thought-provoking, data-driven analysis of everything from swap rates to soybeans. Markets are moving faster than ever. ROI can help you keep up. Follow ROI on LinkedIn, opens new tab and X, opens new tab. The views expressed here are those of the author, a columnist for Reuters.
Yahoo
05-07-2025
- Business
- Yahoo
Texas Leads U.S. in New-Home Construction, Census Data Finds
If it feels like new neighborhoods are popping up all over Texas, you're not imagining it. A recent study ranked the Lone Star State as the leader in new residential construction, with more than one in five homes built in just the last 15 years. According to a report by The Steamboat Real Estate Group, 22.5% of currently occupied Texas homes were constructed after 2010 — the highest share of any state in the nation. Top 10 states with highest share of new-build homes, per Steamboat Real Estate Group That figure translates to roughly 2.5 million homes and may signal continued population growth and ongoing demand for housing in Texas' urban and suburban corridors. The report, based on U.S. Census Bureau data, highlights what many Texans have witnessed firsthand: breakneck residential expansion driven by job creation, rising migration, and a still-accessible housing market compared to coastal states. From sprawling master-planned communities around Austin, Dallas, and Houston to compact townhouse developments cropping up in overlooked corners of the state, Texas continues to attract newcomers seeking fresh starts, modern homes, and economic opportunity. Even without mentioning Austin, there's a reason the internet has adopted the phrase: 'Don't California my Texas.' North Dakota came in second on the list, with roughly 21% of its housing stock built since 2010 — a reflection of the state's brief oil boom and infrastructure push. Utah followed close behind, with 20.65% of its homes built after 2010. Other high-growth states such as Idaho, South Carolina, and North Carolina also landed in the top five, each surpassing 18% of homes constructed in the past decade. At the other end of the spectrum, older states in the Northeast recorded the smallest share of new housing. In Rhode Island and Connecticut, for example, fewer than 6% of occupied homes were built after 2010. New York and other high-density states also saw relatively low construction rates over that time. 'Interestingly, states located predominantly in the South or the West ranked highest in the study, with nine of the top states located in either region. What this tells us is that infrastructure is being heavily prioritized in these areas, with homebuyers, particularly first-time buyers being more exposed to affordability when it comes to buying a home as new build schemes often offer lower rates. 'It's important however, to ensure that thorough checks are made on newly built properties, not just for safety but to be financially responsible if you're investing into a property,' a spokesperson from The Steamboat Real Estate Group explained.
Irish Times
20-06-2025
- Business
- Irish Times
Residential construction slides by over 10% in first quarter of 2025 compared to previous year
Residential construction slumped by 10.6 per cent in the first three months of 2025 compared to the same period last year, Central Statistics Office figures on Friday show. Production in the sector was also down 4.3 per cent compared with the previous quarter. It comes as a new report from estate agents JLL says that Dublin faces a second consecutive year of declining apartment completions , with the numbers built this year expected to be 40 per cent down on the 2023 peak. The group's Dublin Living Market Report, which covers the first half of 2025, said it will take several years before apartment output increases. Completions this year will be down by 17.8 per cent on 2024 levels. Outside residential construction, the CSO data showed production volumes in building and construction more generally rose by 13.5 per cent in the first quarter compared with the same period last year. It was up 4.9 per cent on the previous quarter. READ MORE On an annual basis, volumes in the non-residential building and civil engineering sectors rose by 13.7 per cent and 35.9 per cent respectively. That helped boost overall construction production by value by 6.5 per cent on a quarterly basis and by 19 per cent on the same period last year. JLL's report said apartment completions are expected to rebound in 2026 and 2027 on the back of a 'surge' in apartment construction starts last year when developers accelerated projects to capitalise on levy waivers. Although some house building projects with lodged commencement notices did not proceed, JLL said its research suggests a large number of apartment units with lodged notices did start construction. While apartment deliveries are projected to increase over the next two years, JLL noted that the 2024 report of the Housing Commission indicates it will still fall short of meeting demand. It estimates that between 19,600 and 36,400 apartments are needed annually to satisfy housing needs. It said apartment completions will fall below this by an average of 49 per cent in 2026 and 2027. Elsewhere, JLL said Ireland's residential investment market experienced a 'sluggish start' to 2025, with just €10 million deployed across two transactions in the first quarter. However, it noted there are 'signs of modest activity' in the second quarter, fuelled by a significant deal under offer and the expected completion of Ronan Group's Spencer Place disposal to Ardstone Capital. This transaction, involving 393 apartments in Dublin 1, is valued at approximately €177 million. The outlook for living investment in Ireland is 'cautiously optimistic', JLL said, underpinned by 'strong economic fundamentals and an engaged Government attempting to attract institutional investment'. 'The Government's active pursuit of institutional investment in the living sector is a positive step toward boosting the supply of new units, especially as apartment completions are expected to decline in 2025 compared to 2024,' the group said. 'While rent reforms might require further adjustments to generate the desired large-scale investment, the current Coalition has shifted the stance away from previous governments and now recognises the significant role private investors will play in addressing the housing crisis.' The construction industry is lobbying for additional measures beyond rent reforms, such as VAT waivers for high-density developments or development levy waivers to improve project viability. 'A consensus has emerged among construction bodies, the Irish Government, and the European Commission regarding the critical need for productive investment in housing,' JLL added.
National Post
19-06-2025
- Business
- National Post
Hyphen Solutions Brings the Power of Connected Data at PCBC 2025 in Anaheim
Article content DALLAS — Hyphen Solutions, the leading provider of cloud-based residential construction software solutions, exhibited at The Pacific Coast Builders Conference 2025 (PCBC) in Anaheim, California, June 11-12. As the trusted software partner to over 615 Home Builders and more than 18,000 Suppliers, Hyphen showcased the 'Power of Connected Data' through its unified platform that supports 1 in every 3 new homes built in the U.S. Article content . 'Our participation reaffirms our commitment to delivering a connected, real-time experience for Builders and Suppliers who want to drive efficiency, reduce risk, and build smarter.' -Dr. Felix Vasquez, CEO of Hyphen Solutions Article content At booth #322, PCBC attendees explored how Hyphen Solutions serves as the central hub for connected residential construction – connecting Builders, Suppliers, Manufacturers, and Trades on a single, integrated platform. Article content From sales to jobsite to closeout, Hyphen's ecosystem delivers real-time insights, smoother workflows, and measurable impact across the entire build cycle. Solution highlights included: Article content Marketing + Sales: Sell more homes and products faster than ever, with powerful visualization technology and a CRM built specifically for Home Builders. Design + Warranty: Delight homebuyers with an intuitive design center experience and homeowner portal that extends to warranty tracking and communication. Accounting + Operations: Bring new efficiency and control to the way you build with industry-leading ERP tools and top-tier partner integrations. Construction Management: Deliver real-time scheduling, Supplier coordination, and project oversight from one powerful platform. The industry's most trusted Builder-Supplier network. Orders + Field Management: Streamline Supplier workflows with real-time insights into orders and field activity – reducing mistakes and improving jobsite collaboration. Supply Chain Management: Increase productivity, reduce costs, and gain real-time visibility with a single-source project management, payment, operations, and scheduling engine. ePayments: Enable Customers to pay Vendors electronically in a single step – via Virtual Card, ACH, Wire, RTP, Same-Day ACH, Next Day ACH, and Electronic Print Check – generating rebates, reducing transaction costs, creating operational efficiencies, and removing payment risk. Article content 'PCBC continues to be a critical event for advancing innovation in home building,' said Felix Vasquez, CEO of Hyphen Solutions. 'Our participation reaffirms our commitment to delivering a connected, real-time experience for Builders and Suppliers who want to drive efficiency, reduce risk, and build smarter.' Article content Held at the Anaheim Convention Center, PCBC is the annual conference and trade show for the California Building Industry Association (CBIA) and the Leading Builders of America (LBA), bringing together top Builders, Developers, Manufacturers, and technology partners. Article content At PCBC 2025, Hyphen Solutions also proudly announced its strategic partnership with Building Talent Foundation (BTF) to help strengthen and grow the residential construction workforce. Together, they are connecting Builders with skilled trades and advancing career opportunities across the industry. Article content Article content Article content Article content Article content Contacts
