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Apartment Building Construction Price Index
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The composite price index for apartment building construction (1997=100) was 139.9 in the second quarter of 2006, up 2.9% from the previous quarter and up 7.0% from the second quarter of 2005. The quarterly percentage change was the highest measured since an increase of 3.5% in the second quarter of 1986. The 2.9% increase was mostly the result of higher material and labour costs and a strong market for building construction.
Western Canada recorded the highest quarterly changes, led by Calgary (+5.3%), Edmonton (+5.0%) and Vancouver (+4.8%). Lower price increases were measured in Eastern Canada with a 2.1% advance in Toronto, followed by Ottawa–Gatineau (Ontario part) (+1.9%), Halifax (+1.8%) and Montréal (+1.2%).
On a year-over-year basis, Calgary experienced the highest gain from the second quarter of 2005 (+10.8%), followed by Vancouver (+10.3%), Edmonton (+10.0%), Toronto (+5.9%), Ottawa–Gatineau (Ontario part) (+5.2%), Halifax (+4.9%) and Montréal (+3.9%).
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.
| Apartment Building Construction Price Index1 | |||||
|---|---|---|---|---|---|
|
(1997=100) | |||||
| Second quarter 2006 | Second quarter 2005 to second quarter 2006 | First to second quarter 2006 | |||
| % change | |||||
| Composite index | 139.9 | 7.0 | 2.9 | ||
| Halifax | 129.2 | 4.9 | 1.8 | ||
| Montréal | 134.3 | 3.9 | 1.2 | ||
| Ottawa–Gatineau, Ontario part | 141.6 | 5.2 | 1.9 | ||
| Toronto | 146.7 | 5.9 | 2.1 | ||
| Calgary | 148.1 | 10.8 | 5.3 | ||
| Edmonton | 144.4 | 10.0 | 5.0 | ||
| Vancouver | 140.1 | 10.3 | 4.8 | ||
| |||||
Available on CANSIM: table 327-0040.
Definitions, data sources and methods: survey numbers, including related surveys, 2317 and 2330.
The second quarter 2006 issue of Capital Expenditure Price Statistics (62-007-XIE, free) will be available in October.
For more information or to enquire about the concepts, methods and data quality of this release, contact Client Services Unit (toll-free 1-866-230-2248; 613-951-9606; fax 613-951-1539; prices-prix@statcan.gc.ca), Prices Division.
