Strong Demand Forecast For Home Services

Global demand for home care and design services is projected to grow at a 48.1 per cent compound annual growth rate through 2027, says Research and Markets. In Canada, demand for construction and maintenance workers also continues to grow with the construction outlook strengthening since 2019 and the most significant growth expected between 2020 and 2021. BuildForce Canada’s ‘2020–2029 Construction and Maintenance Looking Forward’ national report anticipates significant growth in the residential sector as robust immigration-driven population growth is expected to support high levels of homebuilding through 2026. And, although new-home construction may soften into the second half of the decade, renovation and maintenance requirements are anticipated to rise significantly. Overall, total residential construction employment is expected to rise by 17,200 workers through 2029. In the U.S., many home improvement service industries have seen unprecedented growth since 2019 as the trend from do-it-yourself (DIY) to do-it-for-me (DIFM) continues to grow during the pandemic. The ‘Hearth National Tradesmen Day Index’ shows house painters have had the largest increase in demand with growth of 142.75 per cent since 2019. This is followed by plumbers (up 139.18 per cent), HVAC technicians (up 108.44 per cent), electricians (up 104.36 per cent), solar installers (up 97.91 per cent), pool service (up 89.12 per cent), roofers (up 82.52 per cent), door installers (up 74.06 per cent), pest control (up 64.63 per cent), landscapers (up 45.72 per cent), and general contractors (up 7.30 per cent). The index was released in honour of ‘National Tradesman Day,’ which is celebrated the third Friday of every September. It calls for people in the trades to be celebrated and honoured for their hard work and essential services.