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Apartment Building Construction Price Index
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The composite price index for apartment building construction decreased 2.6% from the previous quarter to 145.0 (2002=100) in the fourth quarter of 2008. The quarterly decrease was mostly the result of the decline in construction material prices and a weakening of the building construction market.
Of the seven census metropolitan areas surveyed, Edmonton recorded the highest quarterly decrease (-6.1%), while Montréal (+0.9%) registered the largest increase.
Compared with the fourth quarter of 2007, the composite price index for apartment building construction was up 4.8%. Toronto had the largest year-over-year increase (+7.3%), while Vancouver (+0.8%) recorded the smallest increase.
Note: In the fourth quarter of 2008, the building model used to calculate the Apartment Building Construction Price Index was replaced with an updated model. Also, the base year was changed to 2002=100.
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 Ottawa 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 327-0044.
Definitions, data sources and methods: survey numbers, including related surveys, 2317 and 2330.
The third quarter 2008 issue of Capital Expenditure Price Statistics (62-007-XWE, free) will soon be available.
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: 613-951-3117; prices-prix@statcan.gc.ca), Prices Division.
Table 1
| Fourth quarter 2008 | Fourth quarter 2007 to fourth quarter 2008 | Third quarter to fourth quarter 2008 | |
|---|---|---|---|
| (2002=100) | % change | ||
| Composite index | 145.0 | 4.8 | -2.6 |
| Halifax | 130.8 | 5.4 | 0.4 |
| Montréal | 131.8 | 6.5 | 0.9 |
| Ottawa–Gatineau, Ottawa part | 137.7 | 7.0 | -1.2 |
| Toronto | 141.2 | 7.3 | -1.1 |
| Calgary | 173.3 | 7.0 | -4.6 |
| Edmonton | 164.4 | 4.2 | -6.1 |
| Vancouver | 155.7 | 0.8 | -4.7 |
