Acceleration of construction costs

The New Housing Price Index (NHPI) provided by Statistics Canada is rising rapidly. For the past three years, the increase has been over 10%, compared to 4.5% for the cost of living in general. After 9 months in 2020, the index is up 5.3% compared to 2019.

This index combines the cost of construction as well as the cost of land. However, it appears that it is the cost of the building that exploded with a 6% increase compared to last year and 12% in total over the last three years.

The scarcity of labor in construction and the price of materials would explain this price surge, according to some experts. This will be discussed on November 17 during a CORPIQ interview as part of its Virtual IMMO event, presented in the form of a webinar (In French).

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