Apartment Building Construction Price Index, third quarter 2015
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Released: 2015-11-10
The composite price index for apartment building construction declined 0.1% in the third quarter compared with the previous quarter. This was the first quarterly decrease since the first quarter of 2013. The decline was largely the result of lower material prices reported by contractors in the structural trades.
Of the seven census metropolitan areas surveyed, Edmonton (-1.1%) reported the largest decline, followed by Calgary (-0.9%). The decreases were offset by increases in Toronto (+0.4%), Halifax (+0.2%) and Vancouver (+0.1%).
Year over year, the composite price index for apartment building construction rose 1.0%. Toronto (+2.1%) recorded the largest year-over-year increase, while Edmonton (-1.1%) and Calgary (-0.8%) reported the only decreases compared with the third quarter of 2014.
Note to readers
The Apartment Building Construction Price Index is a quarterly series that measures changes in contractors' selling prices of new apartment building construction in seven census metropolitan areas: Halifax, Montréal, Ottawa–Gatineau (Ontario part), Toronto, Calgary, Edmonton and Vancouver.
Selling prices include costs of materials, labour, equipment, provincial sales taxes where applicable, and contractors' overhead and profit. The cost of land, land assembly, design and development as well as real estate fees are excluded. Value added taxes such as the Federal Goods and Services Tax and the Harmonized Sales Tax are excluded.
With each release, data for the previous quarter may have been revised. The index is not seasonally adjusted.
Next release
The Apartment Building Construction Price Index for the fourth quarter of 2015 will be released on February 9, 2016.
Contact information
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