Ms. Sayla Nordin reports

ALTUS GROUP COST CONSULTING RELEASES 2015 CONSTRUCTION COST GUIDE

The cost-consulting team's annual Construction Cost Guide, a leading publication for the Canadian construction and development industry, has been released.

For more than 50 years, Altus Group Ltd.'s Construction Cost Guide and Services has provided insight into comprehensive real estate costs, covering all aspects of construction and development budgeting and modelling. With a thorough understanding of both the demand and supply sides of the real estate equation, as well as a comprehensive knowledge of construction costs gained through Altus Group's cost-consulting practice, the guide analyzes each market sector from a macroperspective.

"Altus Group's independent assessment of construction costs, combined with our sector experience as a leading construction cost authority, continues to help our clients improve cost forecasting and achieve fair pricing for their development projects," said Naren Chande, senior executive vice-president, cost consulting and project management, Altus Group. "Our services prove integral to their budgets and planning, enabling clients to make decisions with clarity and confidence."

Points of interest:

• The 2015 guide assesses construction costs on a national basis, covering all major Canadian markets: Vancouver, Calgary, Edmonton, Toronto, Ottawa, Montreal, Halifax and St. John's.
• The outlook for 2015 indicates a mixed outcome from province to province. Lower oil prices continue to impact the Alberta market while presenting a contributing factor in stabilized costs of construction across a number of trades and geographic locations.
• Elsewhere, population growth in the major centres continues to drive a robust and in-demand residential sector.
• A lower exchange rate for the Canadian dollar to the U.S. dollar is expected to place more pressure on imports of construction products and materials, resulting in price escalation that has largely been offset by a competitive market.