Q3 2015 Apartment Building Construction Price Index Declines 0.1%

Economy 1

The composite price index for apartment building construction declined 0.1% in the third quarter compared with the previous quarter. This was the first quarterly decrease since the first quarter of 2013. The decline was largely the result of lower material prices reported by contractors in the structural trades.

Of the seven census metropolitan areas surveyed, Edmonton (-1.1%) reported the largest decline, followed by Calgary (-0.9%). The decreases were offset by increases in Toronto (+0.4%), Halifax (+0.2%) and Vancouver (+0.1%).

Table: Apartment building construction price index – not seasonally adjusted[1]

 

 

 

 

 

 

 

 

 

Year over year, the composite price index for apartment building construction rose 1.0%. Toronto (+2.1%) recorded the largest year-over-year increase, while Edmonton (-1.1%) and Calgary (-0.8%) reported the only decreases compared with the third quarter of 2014.

Source: Statistics Canada, www.statcan.gc.ca/daily-quotidien/151110/dq151110d-eng.htm?cmp=mstatcan.


Notes

1. View the census subdivisions that comprise the census metropolitan areas (CMAs) here: http://www.statcan.gc.ca/eng/subjects/standard/daily/5000073
2. The relative importance is calculated using a price adjusted three-year average of the value of building permits for each CMA.
3. For the Ottawa–Gatineau metropolitan area, only Ontario contractors are surveyed for the Apartment Building Construction Price Index because of different provincial legislation and construction union contracts.

Related Articles


Latest Articles


Changing Scene

  • Skills Ontario Supports Ontario’s Investments in Skilled Trades in Budget Announcement

    Skills Ontario Supports Ontario’s Investments in Skilled Trades in Budget Announcement

    March 28. 2024 As demand for skilled trades professionals rises, Skills Ontario is commending the government for continued investments in skilled trades and technology programing, working to address the shortfall and need to build the workforce of the future in Ontario.  The skilled trades shortage is costing Ontario approximately $25 billion in foregone GDP. A… Read More…

  • IVRY Launches 7 New VR Lessons

    IVRY Launches 7 New VR Lessons

     IVRY Technologies, a division of IDEAL Electrical, is launching seven new virtual reality (VR) lessons in Canada as part of its Virtual Electrical Training (VET) Series 2 training module. The cutting-edge training will serve as a learning resource for International Brotherhood of Electrical Workers (IBEW) training centers across Canada. Read More…

  • PEI Budget 2024 Signals Continued Focus on Healthcare, Housing and Affordability for all Islanders 

    PEI Budget 2024 Signals Continued Focus on Healthcare, Housing and Affordability for all Islanders 

    March 28, 2024 Hon. Jill Burridge, Minister of Finance, presented government’s 2024-25 operating budget to the legislative assembly, outlining $3.2 billion in investments for Prince Edward Island with a continued focus on healthcare, housing and affordability measures. “This budget signals where we’re headed as a province and shows Islanders where we will be making key… Read More…

  • BC’s Budget 2024 Prioritizes Actions for Low-Carbon Economy

    BC’s Budget 2024 Prioritizes Actions for Low-Carbon Economy

    March 28, 2024 Josie Osborne, Minister of Energy, Mines and Low Carbon Innovation, and Brittny Anderson, MLA for Nelson-Creston, met with community climate leaders in Nelson to discuss how Budget 2024 can help support people in the region to transition to a low-carbon economy and meet shared CleanBC goals. “Our government’s budget this year reflects the… Read More…