Building Costs Per Square Foot in Canada – StatCan Statistics

Building Costs Per Square Foot in Canada – StatCan Statistics

Cranstons Riverstones Housing Development 645 Cranbrook Gardens Southeast Calgary AB - 1 to 3 Bedroom Units (2)

New Single Family Home Development (1 to 3 Bedroom Units) – Cranstons Riverstones Housing Development 645 Cranbrook Gardens Southeast Calgary AB , Canada – Built by CedarGlen Homes

According to StatCan, the building construction price index in Canada increased from 117.5 to 143 in the fourth quarter of 2020 and 2021 respectively. This was an annual percentage change of 21.7% in the national composite index. Increases were also registered in the regional construction index. The city of Calgary in the Alberta region had the highest increase at 33%, followed by Toronto at 25.6%. In third place was Edmonton at 24.5% followed by the Ottawa-Gatineau region at 24.4%. In fifth place were the three metropolitan areas of St Johns, Newfoundland and Labrador at 20.3%. In sixth place was Saskatoon in the Saskatechewan region at 18.5%. The city of Montreal in Quebec came seventh at 18.2%, followed by Winnipeg in Manitoba at 16.6%. In 9th position was Halifax in Nova Scotia at 16.2%. The city of Vancouver in the British Columbia had a 13.5% increase in the local construction index, and the city of Moncton in New Brunswick had the lowest rise in the local building index at 9%.

Building Construction Price Index Canada and 11 Provinces Q4-2020-2021

Building Construction Price Index Canada and 11 Provinces Q4-2020-2021

Building Construction Price Index Canada and 11 Provinces Q4-2020-2021 Ascending Order

Building Construction Price Index Canada and 11 Provinces Q4-2020-2021 Ascending Order

CHBA Housing Market Index

For the uninitiated, a rise in the local construction index indicates a rise in the price of building materials and labour which in turn affects the cost of building. Another indicator of changes in costs that can guide you is the CHBA index. CHBA is an acronym for Canadian Home Builders Association. Results of the CHBA HMI released in the fourth quarter of 2021.

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