Costs soar as construction boom continues in Halifax
Prices for materials and labour in Halifax have gone through the roof as the region experiences a construction boom not seen in years.
According to Statistics Canada figures released Tuesday, the non-residential building construction price index in Halifax had the highest jump in Canada from the second to third quarter.
The index, which measures selling prices for materials, labour and equipment and provincial sales tax in the commercial, industrial and institutional sectors, is at 144.4 (not seasonally adjusted) in Halifax, a 0.7 per cent increase from the previous quarter. The next highest increase was experienced in Edmonton, which saw a 0.3 per cent jump between quarters.
Overall, construction prices in Halifax went up 2.3 per cent from the same period last year, placing the city in the middle of the seven metropolitan areas that Statistics Canada surveyed.
At 3.6 per cent, Edmonton once again had the largest increase in prices year-to-date.
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