The composite price index for apartment building construction was 157.5 (1997=100) in the fourth quarter

The composite price index for apartment building construction was 157.5 (1997=100) in the fourth quarter, up 0.8% from the third quarter and up 6.9% from the fourth quarter of 2006. The quarterly increase was mostly the result of higher labour costs and a strong market for building construction.

Calgary and Edmonton recorded the highest quarterly changes (both +1.6%), followed by Vancouver and Montreal (+0.8% each) and Toronto (+0.5%), with Ottawa–Gatineau, Ontario part, and Halifax both recording an increase of 0.2%.

Edmonton experienced the highest gain (+12.8%) from the fourth quarter of 2006, followed by Calgary (+12.2%), Vancouver (+9.7%), Toronto (+4.7%), Ottawa–Gatineau, Ontario part (+4.1%), Montreal (+3.9%) and Halifax (+3.5%).

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.

Available on CANSIM: table 327-0040.

Definitions, data sources and methods: survey numbers, including related surveys, 2317 and 2330.

The third quarter 2007 issue of Capital Expenditure Price Statistics (62-007-XWE, free) will be available soon.

For more information or to enquire about the concepts, methods and data quality of this release, contact Client Services (toll-free               1-866-230-2248       ;               613-951-9606       ; fax 613-951-1539; prices-prix@statcan.ca), Prices Division.