Dunkley Lumber Company, a privately owned Canadian forestry company with three sawmills in western Canada, has announced a $100 million (C$) expansion at their Carrot River, Saskatchewan sawmill facility. The expansion is expected to create 240 new direct and indirect jobs through growth in lumber sales and exports.
Wood Markets News
Canadian Investment in Building Construction Down for Third Consecutive Month in July
Statistics Canada (StatsCan) reported this morning (9-13-21) that investment in building construction in Canada was down -1.7% to $18.1 billion (C$) in July. On a constant dollar basis (2012=100), investment in building construction declined 1.6% to $13.0 billion in July.
Mortgage Credit Availability Increases for Second Consecutive Month in August
The Mortgage Banker Association (MBA) on Thursday (9-9-21) released their Mortgage Credit Availability Index (MCAI), which analyzes data from Ellie Mae’s AllRegs® Market Clarity® business information tool, for August. According to the report, the MCAI rose by 3.9% to 123.7 in August.
Building Materials Costs Soar, Offsetting Recent Declines in Lumber and Panel Pricing
According to the latest Bureau of Labor Statistic (BLS) Producer Price Index (PPI), with analysis provided by the National Association of Home Builders (NAHB), the prices of goods used as inputs into residential construction including energy have risen 19.0%. Without energy, they are up 12%, year-to-date.
Timberlink to Add Timber Treatment Plant to Previously Announced Tarpeena Facility Upgrade
Timberlink, the Australian timber products manufacturing business owned by investment funds managed by New Forest, announced today (9-10-21) a $5.3 million (AUD) upgrade to its Tarpeena manufacturing facility, with the installation of a new Light Organic Solvent Preservative timber treatment plant.
Producer Price Index for Final Demand Increases 0.7% in August
The Bureau of Labor Statistics (BLS) reported today (9-10-21) that the Producer Price Index (PPI) for final demand, seasonally adjusted, increased 0.7% in August. Final demand prices rose 1.0% in July (the same as in June), 0.8% in May, 0.6% in April, 1.0% in March, and 0.5% in February.
UK Timber Import Levels Reach 14-year High in June 2021
According to the UK’s Timber Trade Federation (TTF), a surge of imported timber in June 2021 exceeded the one million m³ mark. At a total of 1.01 million m³, this brings the total volume of imports to more than 6 million m³ in the first six months of 2021 — the highest level in 14 years.
Asking Rents Increased 10.3% and Single-Family Build-to-Rent Rose 13.9% Year-Over-Year in August
According to the latest Yardi Matrix Multifamily National Report, asking rents rose 10.3% year-over-year in August. This marks the first double digit year-over-year increase in the Multifamily dataset. At the same time, overall rents have risen by $25 in August and $140 this year to date, up to a national average rent of $1,539.
Canadian Employment Grows for Third Consecutive Month in August — Unemployment Moves Lower
Statistics Canada (StatsCan) reported today (9-10-11) that employment increased by 90,000 (+0.5%) in August, marking the third consecutive monthly increase. The unemployment rate fell by -0.4% to a reading of 7.1%.
Proposed Prince Albert, Saskatchewan Timber Mill Receives Province Timber Allocation
A proposed timber mill in Prince Albert, Saskatchewan, Canada that is expected to create 700 new jobs in the area moved one step closer to becoming a reality when One Sky Forest Products OSB received its timber allocation from the province. The province did not say how much it was allocating but said the majority of the timber would be from the province…