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Escalation Watch First Quarter 2015

The mid-February 2015 Non-residential Building Construction Price Indices were released by Statistics Canada on May 12th. The second quarter indices for 2015 will be available mid-August.
 

The national composite index has risen again this quarter with a reported an increase of 0.3%.  Expressed year over year, the national composite index is up 1.2% over the same period in 2014 rising from 153.3 to 155.2.  These increases continue to be attributed to higher material prices.
 

Five of the seven census metropolitan areas surveyed reported quarterly increases, with Vancouver (0.9%) posting the largest increase, followed by Toronto (0.7%). Edmonton (-0.6%) and Calgary (-0.2%) reported the only decreases.
 

Year over year, the composite price index rose 1.2%. Of the seven cities surveyed, Toronto (2.1%) recorded the largest year-over-year increase, while Edmonton (-0.1%) recorded the lone decline compared with the first quarter of 2014.
 

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 Capital Expenditures Price Statistics publication – catalogue 62-007-XWE.  Specifically, we used the Non-residential Building Construction Price Indexes for the national composite and each surveyed city indicated on tables 7.2 through 7.9.  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.
 

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

Latest News

Craig Bye, Hanscomb Director and Principal of the Hamilton office, has been appointed Chair of the Canadian Institute of Quantity Surveyors (CIQS) for 2015/2016.  Over the past number of years Craig has invested a lot of hard work and personal time towards the advancement of the organization and our profession and is highly regarded by the Institute, its members and the industry.  Hanscomb would like congratulate Craig on this well-deserved appointment.
Statistics Canada's First Quarter Non-residential Construction Price Indices were released on May 12th. The Second Quarter Indices will be released mid-August.  Click here to download a copy of Hanscomb's Escalation Watch.  
Hanscomb Executive Vice President, Susan Neil addresses breaking the gender barrier in the construction industry in the Spring issue of Construction Economist. See it here.

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