Pammi Brar
RE/MAX Real Estate (Mountain View)
401,9650 HARVEST HILLS BLVD.NE, Calgary, Alberta
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Friday, May 15, 2009 - Non-residential construction down in Calgary, across Canada - Calgary Herlad

CALGARY - The cost of non-residential building construction decreased by 4.6 per cent in the Calgary census metropolitan area in the first quarter of 2009 from the last quarter of 2008, said Statistics Canada on Thursday.

Its composite price index of seven CMA’s across the country showed the quarterly change was down 4.2 per cent nationally, with the biggest decrease in Vancouver at 10.7 per cent. Montreal had the only quarterly increase at 0.4 per cent.

“The quarterly decrease (nationally) was mostly the result of declines in construction material prices and competitive conditions due to a weaker non-residential building construction market, most notably in Western Canada,” said the federal agency.

Year-over-year, the composite price index was up one per cent nationally. Calgary saw an annual increase of 2.7 per cent. The biggest annual increase was in Montreal at 6.2 per cent, while the biggest decrease was in Vancouver at 9.1 per cent. Edmonton had an annual decrease of 4.7 per cent.

Statistics Canada said the non-residential building construction price index provides an indication of the changes in new construction costs in six CMA’s (Halifax, Montreal, Toronto, Calgary, Edmonton and Vancouver) and the Ottawa part of the Ottawa-Gatineau CMA.

Three construction categories (industrial, commercial and institutional buildings) are represented by selected models (a light factory building, an office building, a warehouse, a shopping centre and a school).

The Calgary census metropolitan area includes the city, Airdrie, the Municipal District of Rocky View, Chestermere, Cochrane, Irricana, Beiseker and Crossfield.
posted in News at Fri, 15 May 2009 07:44:02 -0600



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