Higher Material Costs Raise Q1 Apartment Building Construction Price Index
The composite price index for apartment building construction rose 0.5% in the first quarter compared with the previous quarter. This increase was the result of higher prices for materials used in apartment building construction.
Of the seven metropolitan areas (CMAs) surveyed, Vancouver (+0.9%) reported the largest increase, followed by Toronto (+0.7%). Edmonton (-0.4%) and Calgary (-0.1%) reported the only decreases.
Year over year, the composite price index for apartment building construction was up 1.5%. Of the census metropolitan areas surveyed, Toronto (+2.3%) recorded the largest year-over-year gain, while Edmonton (+0.1%) recorded the smallest increase compared with the first quarter of 2014.
Source: Statistics Canada, http://www.statcan.gc.ca/daily-quotidien/150512/dq150512b-eng.htm?cmp=mstatcan.
