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Apartment Building Construction Price Index
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The composite price index for apartment building construction increased 3.9% from the first quarter of 2008 to 167.2 (1997=100) in the second quarter, up 8.5% compared with the second quarter of 2007. The quarterly increase was mostly the result of several factors, including higher material prices, in particular steel, and increases in labour and fuel costs.
Calgary recorded the highest quarterly change (+6.8%), followed by Edmonton (+5.5%), Toronto (+4.4%), Ottawa–Gatineau, Ontario part (+3.7%), Vancouver (+3.3%), Halifax (+2.5%) and Montréal (+2.0%).
Edmonton had the largest increase (+13.6%) from the second quarter of 2007, followed by Calgary (+13.4%), Vancouver (+8.9%), Toronto (+8.3%), Ottawa–Gatineau, Ontario part (+7.2%), Montréal (+5.2%) and Halifax (+4.4%).
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 2008 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).
