Apartment Building Construction Price Index

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The composite price index for apartment building construction stood at 138.2 (2002=100) in the first quarter, down 4.7% from the previous quarter. The quarterly decrease was mostly the result of declines in construction material prices and competitive conditions, due to a weaker building construction market, most notably in Western Canada.

Among the seven census metropolitan areas (CMAs) surveyed, Vancouver (-10.5%) recorded the largest quarterly decrease while Montréal, which reported no change, was the only CMA not to register a decrease.

Year-over-year, the composite price index for apartment building construction was down 2.3%. Decreases were recorded in Vancouver (-11.6%), Edmonton (-6.4%) and Calgary (-0.1%), while Montréal (+4.4%) recorded the largest 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 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 first quarter 2009 issue of Capital Expenditure Price Statistics (62-007-X, free) will be available in July.

For more information or to enquire about the concepts, methods and 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), Producer Prices Division.