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Apartment Building Construction Price Index
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The composite price index for apartment building construction was 154.1 (1997=100) in the second quarter of 2007, up 3.2% from the previous quarter and up 10.2% from the second quarter of 2006. The quarterly increase was mostly the result of higher labour and materials costs and a strong market for building construction, particularly in Western Canada. Also, the year-to-year advance was the largest since the index was first published in the first quarter of 1988.
Western Canada recorded the highest quarterly increases, led by Edmonton (+5.3%), followed by Calgary (+4.5%) and Vancouver (+4.1%). Lower price rises were observed in Eastern Canada, with Montréal recording an advance of 2.6%, followed by Toronto (+2.3%), Ottawa–Gatineau, Ontario part (+2.2%) and Halifax (+1.9%).
Calgary (+23.4%) experienced the highest gain over the second quarter of 2006, followed by Edmonton (+20.9%), Vancouver (+15.7%), Toronto (+6.5%), Ottawa–Gatineau, Ontario part (+5.7%), Halifax (+5.3%) and Montréal (+4.2%).
Note: The apartment building construction price indexes provide an indication of new construction cost changes in six census metropolitan areas (CMAs) (Halifax, Montréal, Toronto, Calgary, Edmonton and Vancouver) and the Ontario part of the Ottawa–Gatineau CMA. Besides each of the CMA indexes and the composite index, there are further breakdowns of cost changes by trade groups within the building (structural, architectural, mechanical and electrical). These price indexes are derived from surveys of general and special trade-group contractors who report on the categories of costs (material, labour, equipment, taxes, overhead and profits) relevant to the detailed construction specifications included in the surveys.
Available on CANSIM: table 327-0040.
Definitions, data sources and methods: survey numbers, including related surveys, 2317 and 2330.
The second quarter 2007 issue of Capital Expenditure Price Statistics (62-007-XWE, free) will be available in October.
For more information, or to enquire about the concepts, methods or data quality of this release, contact Client Services (toll-free 1-866-230-2248; 613-951-9606; fax 613-951-1539; prices-prix@statcan.gc.ca), Prices Division.
Table(s).
