Escalation Watch Fouth Quarter 2015
Statistics Canada’s 2015, fourth quarter, Non-residential Building Construction Price Indices are now available. The first quarter indices for 2016 will be available mid-May.
In the fourth quarter, the national composite index has reported an increase of 0.3% compared with the previous quarter. This increase can be attributed to higher material prices reported by architectural and structural trades in the industrial sector.
Of the seven census metropolitan areas surveyed, Montreal (1.2%) led the way with the largest quarterly increase, followed by Ottawa (0.4%) and Toronto (0.3%). Calgary (-0.2%) and Edmonton (-0.2%) continued their slides, reporting the only declines.
Year over year, the composite price index rose 0.7%. The largest year over year increases were reported in Toronto and Vancouver, both up 1.7%. Edmonton and Calgary, both down -1.4% reported the only decreases compared with the fourth quarter 2014.
It bears remembering that the indices prepared for Statistics Canada are intended only to track cost changes in a given city. The index cannot be used to compare costs between cities.
The source data used to prepare the charts in this newsletter is drawn from Statistics Canada’s CANSIM, specifically table 327-0043. Readers are cautioned that Statistics Canada does, on occasion, restate indices from previous quarters. Individual city and national composite indices reported in this newsletter reflect these changes. Indices restated from the previous report are highlighted for ease of reference where appropriate.
More information about this and other construction related indices published by Statistics Canada are available on line at www.statcan.gc.ca.
- Susan Neil, PQS, MRICS
Executive Vice President