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Apartment Building Construction Price Index, first quarter 2015

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Released: 2015-05-12

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 CMAs 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.

  Note to readers

The Apartment Building Construction Price Index is a quarterly series that measures the changes in contractors' selling prices of new apartment building construction in seven census metropolitan areas: Halifax, Montréal, Ottawa–Gatineau (Ontario part), Toronto, Calgary, Edmonton and Vancouver.

Selling prices include the costs of materials, labour, equipment, provincial sales taxes where applicable, and contractors' overhead and profit. The cost of land, land assembly, design and development as well as real estate fees are excluded. Value added taxes such as the Federal Goods and Services Tax, and the Harmonized Sales Tax are excluded.

With each release, data for the previous quarter may have been revised. The index is not seasonally adjusted.

The Apartment Building Construction Price Index for the second quarter will be released on August 11.

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