The composite price index for non-residential building construction in Vancouver increased 0.1% in 2012’s third quarter compared with the previous quarter, according to Statistics Canada data released this morning.
This puts Vancouver’s price increase for the quarter below the national average increase of 0.2%.
The Non-residential Building Construction Price Index measures changes in the selling prices charged by contractors in the construction of non-residential building construction, and looks at the seven largest metropolitan areas across the country.
Year-over-year, the city’s price index increase for the quarter is still ahead of the national average: 3.1% compared with a nationwide increase of 2.4%.
The highest third-quarter year-over-year gains were posted in Alberta, with Edmonton in the lead with 3.6% and Calgary at 3.5%.
In addition to the quarterly data, the report shows the increases for the seven cities over the last decade, with Vancouver posting the smallest change in selling prices for non-residential building construction.
The price increases, when compared with those in 2002, are:
- Vancouver: 42.9%;
- Montreal: 43.0%;
- Halifax: 44.4%;
- Toronto: 51.7%;
- Ottawa: 56.%;
- Edmonton: 68.0%; and
- Calgary: 71.1%.
Nationally, prices increased 51% over the last 10 years.
