November 14, 2012 by On-Site staff
Construction costs of materials and labour increased substantially in the Maritime provinces’ largest city in the third quarter of 2012.
According to a recent Statistics Canada survey, Halifax experienced a 0.7-per cent increase (from 143.4 to 144.4) in the non-residential building construction price index, when compared to Q2 2012.
The second-largest increase took place in Edmonton, which was up 0.3 per cent (168.0). Montreal experienced the smallest gain in Q3 2012, up 1.3 per cent.
Over a 12-month period, Halifax was up 2.3 per cent from Q3 2011 to Q3 2012, placing the city behind Edmonton (up 3.6 per cent), Calgary (up 3.5 per cent) and Vancouver (up 3.1 per cent), but ahead of Toronto (up 1.8 per cent), Ottawa-Gatineau (up 1.7 per cent) and Montreal (up 1.5 per cent).
From Q3 2011 to Q3 2012, investment in non-residential building construction in Halifax jumped 14.6 per cent, from $96 million to $110 million.
To view the report, click here.
The Non-residential Building Construction Price Index measures changes in contractors’ selling prices of new non-residential building construction in seven census metropolitan areas. Selling prices include: costs of materials, labour, equipment, provincial sales taxes where applicable, and contractors’ overhead and profit. This release presents data that is not seasonally adjusted.
Source: Statistics Canada.