Non-residential Building Construction Prices Rise 0.8% in Q2

Economy

 

Aug 14, 2017

Contractors’ prices for new non-residential building construction rose 0.8% in the second quarter compared with the previous quarter. This was the seventh consecutive quarterly increase.

Prices for new non-residential building construction were up in six of the seven surveyed census metropolitan areas (CMAs). Prices rose the most in Vancouver (+1.3%) and Montreal (+1.2%). Contractors in both CMAs reported higher costs to complete the structural components of new buildings due to the favorable local market conditions and a high demand for skilled labour.

Contractors in Edmonton saw no change in their prices for new non-residential building construction in the second quarter.

Year-over-year change

Year over year, contractors’ prices for new non-residential building construction increased 2.7%, led by higher prices in Vancouver (+6.0%).

Contractors working in Edmonton (+0.2%) and Calgary (+1.2%) reported the first year-over-year price increases for new non-residential building construction since the fourth quarter of 2014 and first quarter of 2015 respectively.

Source: Statistics Canada, http://www.statcan.gc.ca/daily-quotidien/170808/dq170808b-eng.htm

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