Apartment Building Construction Price Index

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The composite price index for apartment building construction decreased 1.6% in the third quarter compared with the previous quarter. As was the case in the second quarter, the decline in the third quarter was mostly the result of increased competitive conditions as a result of a weaker building construction market, most notably in Western Canada.

Among the seven census metropolitan areas (CMAs) surveyed, Vancouver (-3.8%) recorded the largest quarterly decrease while Montréal (+0.7%) had the only increase.

Year over year, the composite price index for apartment building construction was down 9.6%. Of the CMAs surveyed, Vancouver (-18.5%) recorded the largest decrease, while Montréal (+1.5%) and Halifax (+0.1%) had the only increases.

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 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 327-0044.

Definitions, data sources and methods: survey numbers, including related surveys, 2317 and 2330.

The third quarter 2009 issue of Capital Expenditure Price Statistics (62-007-X, free) will be available in January 2010.

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.