The Metro Vancouver region posted the largest decline in non-residential building construction costs of 15.9% last year, according to Statistics Canada data released Monday.
For much of the year, the decline was due to a weaker non-residential building construction market in Western Canada and increased competitive conditions.
The other western Canadian areas reporting declines included Edmonton (-12.8%) and Calgary (-9.7%), pushing the national composite index down 7.7%.
In the fourth quarter, Vancouver prices fell a modest 0.2% compared to a 4.4% decline in the third quarter of 2009.
The only market to post price increases was Montreal, which posted a 0.2% increase in the fourth quarter and a 1.2% increase for the year.