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Apartment Building Construction Price Index, fourth quarter 2016

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Released: 2017-02-14

The Apartment Building Construction Price Index (ABCPI) rose 0.9% in the fourth quarter compared with the previous quarter. This was the fifth consecutive increase and the largest gain since the third quarter of 2011.

Of the seven census metropolitan areas (CMAs) surveyed, Vancouver (+1.5%) reported the largest quarterly increase. The price index was unchanged in Halifax.

Year over year, the ABCPI was up 2.0% in the fourth quarter. Vancouver (+2.8%) and Toronto (+2.7%) posted the largest gains. Edmonton was the only CMA to record no change compared with the fourth quarter of 2015.

  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 and equipment, provincial sales taxes where applicable, and contractors' overhead and profit. The costs 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.

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