After a 10.5% decline in Metro Vancouver apartment building construction in 2009's first quarter, prices fell a modest 0.6% in the second quarter, according to Statistics Canada data released Thursday.
Across Canada, the apartment building construction price index fell 1.1% in the second quarter due to a continued drop in construction material prices and a weaker building construction market.
Prices fell the most in Edmonton (-2.8%) and Calgary (-2.7%), followed by Toronto (-1.1%) then Vancouver. Only prices in Halifax rose in the second quarter by 0.5%.
For the year, however, Metro Vancouver has seen the largest decline in prices in the country down 15% between the second quarter of 2009 and 2008, followed by Edmonton (-13.8%) and Calgary (-8.9%).