Building construction price indexes, fourth quarter 2022

National overview

Residential building construction costs increased 1.0% in the fourth quarter, following a 2.5% increase in the previous quarter. Non-residential building construction costs rose 1.6% in the fourth quarter, following a 2.1% increase in the previous quarter.

Skilled labour shortages and cost of materials, particularly fuel, concrete and steel, were reported by contractors as key issues across the construction industry. For non-residential construction, availability of materials was also reported as a key issue.

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