Escalation Watch First Quarter 2016
Statistics Canada’s 2016, first quarter, Non-residential Building Construction Price Indices are now available. The second quarter indices for 2016 will be available mid-August.
In the first quarter of 2016, the national composite index was unchanged (0.0%). Higher material prices in structural trades in Ontario were offset by decreases in Alberta.
Of the seven census metropolitan areas surveyed, Toronto (0.7%) led the way with the largest quarterly increase, followed by Ottawa (0.4%). These gains were offset by declines seen in Halifax (-0.2%), Edmonton (-1.0%), Calgary (-0.3%) and Vancouver (-0.2%).
Year over year, the composite price index continued its rise, up 0.4%. The largest year over year increases were reported in Toronto and Ottawa, both up 1.7%. Edmonton (-1.5%) and Calgary (-1.9%) reported the only decreases compared with the first quarter of 2015.
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