Canadian homebuilding costs up 1.8 percent in Q1

Canadian homebuilding costs rose 1.8 percent in the first quarter of this year, StatCan reports, following a 1.1 percent increase in Q4 2022. The agency has a breakdown for construction costs, too. Masonry costs were up four percent in the quarter, while wood, plastics and composites costs actually declined 0.2 percent, attributed to falling lumber prices. Toronto building costs rose 3.2 percent in the quarter, Halifax was up 2.6 percent, and Vancouver increased 2.3 percent. Calgary, however, saw its homebuilding costs decline 0.2 percent in the quarter.