Non-Residential Construction Price Index1
A measure of variations in the cost of constructing non-residential projects.
- In Q2 2020, the change in the Non-Residential Construction Price Index (NRCPI) for the Toronto Census Metropolitan Area (CMA) was 2.6 per cent.
- The change in NRCPI for the Toronto CMA was above the overall average of the selected Canadian CMAs.
- For 2020, the NRCPI is expected to increase by approximately 2.8 per cent.
Relative to Q2 2019, the cost of non-residential building construction in the Toronto CMA, as measured by the change in the Non-Residential Construction Price Index (NRCPI), increased by 2.6 per cent in Q2 2020.
This was less than the rates recorded in the comparable quarters Q2 2019 (4.0 per cent) and Q2 2018 (4.1 per cent).
At 2.6 per cent, the change in the NRCPI for the Toronto CMA in Q2 2020 was higher than the 1.5 per cent overall average increase for eleven selected Canadian CMAs.
Non-Residential Construction Price Index Forecast
Based on current Region of Peel forecasts, the index is expected to register the following changes:
- Quarterly forecast
- Q3 2020: 2.7 per cent; and
- Q4 2020 2.9 per cent
- Annual forecast
- 2020: 2.8 per cent; and
- 2021: 3.3 per cent
1The Non-residential Construction Price Index measures variations in the cost of constructing non-residential projects. The approach used to developing the index “seems especially appropriate for very heterogeneous types of construction which are impossible or difficult to price”. https://www150.statcan.gc.ca/n1/en/pub/62f0014m/62f0014m1996002-eng.pdf?st=8dgsxHDf