Apartment Building Construction Price Index

The composite price index for apartment building construction was 156.2 (1997=100) in the third quarter, up 1.4% from the second quarter, and up 8.5% from the third quarter of 2006. The quarterly increase was mostly the result of higher labour and materials costs, and a strong market for building construction.

Western Canada recorded the highest quarterly changes, led by Edmonton (+2.6%), followed by Vancouver (+2.5%) and Calgary (+2.2%). Lower price increases were measured in Eastern Canada, with both Toronto and Ottawa–Gatineau, Ontario part recording advances of 0.7%, followed by Halifax and Montréal (+0.4% each).

Calgary experienced the highest gain (+18.1%) from the third quarter of 2006, followed by Edmonton (+17.9%), Vancouver (+13.8%), Toronto (+5.0%), Ottawa–Gatineau, Ontario part (+4.6%), Halifax (+3.6%) and Montréal (+3.2%).

Note: 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 327-0040.

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

The third quarter 2007 issue of Capital Expenditure Price Statistics (62-007-XWE, free) will be available in February 2008.

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 613-951-1539; prices-prix@statcan.ca), Prices Division.