The composite price index for apartment building construction rose 0.2% in the third quarter compared with the previous quarter. The quarterly increase was mainly attributable to contractors reporting a slight rise in building costs in some census metropolitan areas (CMAs).
Of the seven CMAs surveyed, three reported quarterly gains ranging from 0.4% to 1.1%. The largest increase was in Calgary (+1.1%), followed by Vancouver (+0.5%). Montréal (-0.1%) recorded the only decline.
Year over year, the composite price index for apartment building construction was up 1.3%. Of the CMAs surveyed, Vancouver (+3.3%) recorded the largest year-over-year gain, while Ottawa–Gatineau recorded a 0.3% decline from the third quarter of 2012.