Construction Cost Stabilize – Vancouver Up 36% in 4 Years
Construction costs play a significant role in determining home prices, typically accounting for more than one-third of development costs. residential construction costs in Canada rose 1.0% in the fourth quarter of 2022, while non-residential construction costs rose 1.6%. Key factors driving the increase include skilled labour shortages, the cost of construction materials such as fuel, concrete and steel, and supply chain disruptions due to the New Crown epidemic.
For residential construction, Vancouver experienced the most significant growth in Q4 2022, and it has one of the slowest construction cost increases of any major metropolitan area in Canada since the end of 2018, with only 36% growth in Vancouver compared to 67% in Toronto and 53% on average in Canada when comparing construction cost inflation between Q4 2018 and Q4 2022.
In terms of the growth rate in 2022, we can see the construction costs begin to stabilize, and that will provide analysts with a degree of forecast certainty and more accurate data on pricing and underwriting in the months ahead.
【建築成本趨穩定，溫哥華4年漲36%】 建築成本在決定房價方面發揮著重要作用，通常占開發成本的三分之一以上。2022 年第四季度，加拿大住宅建築成本上漲 1.0%，而非住宅建築成本上漲 1.6%。推動增長的關鍵因素包括熟練勞動力短缺、燃料、混凝土和鋼材等建築材料的成本，以及新冠疫情流行造成的供應鏈中斷等。
對於住宅建築進度，溫哥華在 2022 年第四季度經歷了最顯著的增長，但自 2018 年底以來，溫哥華是全國所各主要城區中建築成本增長最慢的地區之一，在比較 2018 年第四季度和 2022 年第四季度的建築成本通脹時，溫哥華的成本僅增長了 36%，而多倫多為 67%，加拿大平均為 53%。
就過去2022年增長來看, 隨著成本開始越趨於穩定，算是為分析師提供了一定程度的預測確定性，未來幾個月定價和承保方面提供更準確的數據。
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