Construction costs
#1
Posted 09 June 2008 - 10:43 PM
One developer rep I talked to last week told me metal costs were up 45% this year, and that some of the metal finishing panels on a building will be replaced by smooth stucco panels. In other cases, cheaper aluminum is substituted.
Another developer said today that construction costs are easing somewhat, and we are seeing relief from a year or two ago, when general construction costs were increasing over 1% per month. Costs are still increasing, especially fuel. That may mean more local supplies that don't need to be transported long distances.
Labour remains scarce and expensive, and this story out today says the labour crunch won't ease until after the Olympics.
#2
Posted 22 June 2008 - 11:38 AM
No disrespect to architects, but most of them do not have a clue about costs. As for the labour crunch, it is slowly easing now and most contractors I have spoken with all expect layoffs before the end of the year.
#3
Posted 22 June 2008 - 12:11 PM
Average construction costs are increasing 7-8% a year. That is much better than 3-4 years ago when costs were increasing at 2% per month, compounded.
No disrespect to architects, but most of them do not have a clue about costs. As for the labour crunch, it is slowly easing now and most contractors I have spoken with all expect layoffs before the end of the year.
I can attest to the fact contractors have already started layoffs as at our site (Parkside)...One company has started to lay off un-skilled workers such as basic labourers and less skilled carpenters...
#4
Posted 26 June 2008 - 09:56 AM
#5
Posted 26 June 2008 - 12:22 PM
#6
Posted 23 March 2009 - 09:45 AM
#7
Posted 22 October 2009 - 12:38 PM
-City of Victoria website, 2009
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