Skyrocketing prices don’t seem to be having a dampening effect on the local construction industry.

That’s according to the Canadian Home Builders Association-NL which says many contractors are reporting they’re being kept busy with construction and renovation projects.

President Grant Cooper says the average price of a 2×4 piece of lumber has tripled in some cases, and it doesn’t end there. Many other building supplies are similarly affected, driven primarily by increased demand here and in the US.

“This is a global issue,” says Cooper “and largely what happens in the US..and Europe…affects what happens here.”

Local lumber mills are selling to the global market and are doing well as a result, says Cooper. Executive director Alexis Foster indicates local contractors are not yet reporting a dampening effect due to increased prices, but wait times for customers are being affected.

Rail transport is being affected says Foster, forcing suppliers to switch to trucking product, which also affects the price and wait times. She says nationally there is a six-week wait on new home construction as a result of the pandemic.

Prices aren’t expected to start evening out for some time according to the Home Builders Association.