The composite price index for apartment building construction rose 1.3% in the second quarter compared with the previous quarter. The quarterly increase can be attributed mainly to higher labour costs and improved market conditions in the building construction market. This was the first quarterly increase since the third quarter of 2008.
The seven census metropolitan areas (CMAs) surveyed reported quarterly increases in the second quarter, with Edmonton (+3.3%) recording the largest quarterly gain.
Year over year, the composite price index for apartment building construction was down 0.6%. Of the CMAs surveyed, Vancouver (-3.2%) and Calgary (-2.3%) recorded the largest declines, while Ottawa–Gatineau, Ontario part (+3.2%), posted the largest increase.