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Construction costs


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#1 Rob Randall

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Posted 09 June 2008 - 10:43 PM

When talking to architects and developers, I hear a lot of comment on construction costs. I'll try to post some of the quotes here in order to get some perspective on the local construction scene.

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.

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#2 concorde

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Posted 22 June 2008 - 11:38 AM

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.

#3 Koru

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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 victoriacarpenter

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Posted 26 June 2008 - 09:56 AM

We have laid off over 50 people in the last month due to slow downs

#5 G-Man

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Posted 26 June 2008 - 12:22 PM

No Hiring sign at the Juliet Site now too.

#6 Rob Randall

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Posted 23 March 2009 - 09:45 AM

A local developer tells me today that construction costs have not fallen enough to compensate for the drop in condo prices and that the numbers don't add up for development. This means that at least one empty lot will remain vacant for a while.

"[Randall's] aesthetic poll was more accurate than his political acumen"

-Tom Hawthorne, Toronto Globe and Mail


#7 Holden West

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Posted 22 October 2009 - 12:38 PM

It appears US construction costs are rising.
"Beaver, ahoy!""The bridge is like a magnet, attracting both pedestrians and over 30,000 vehicles daily who enjoy the views of Victoria's harbour. The skyline may change, but "Big Blue" as some call it, will always be there."
-City of Victoria website, 2009

 



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