The composite price index for apartment building construction increased 1.1% in the second quarter compared with the previous quarter. The quarterly advance was mainly a result of wage increases and the continued strength of construction material prices.
All seven of the census metropolitan areas (CMAs) surveyed reported quarterly increases between 0.7% and 1.4%. Toronto (+1.4%) and Calgary (+1.2%) posted the largest quarterly advance while Montréal (+0.7%) reported the smallest increase.
Year over year, the composite price index for apartment building construction was up 2.9% in the second quarter. Of the seven CMAs surveyed, Ottawa–Gatineau, Ontario part (+3.8%) reported the largest year-over-year increase, while Calgary (+1.2%) showed the smallest advance.