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May 09, 2025RESIDENTIAL RENOVATION PRICE INDEX, Q1 2025 Year-over-year (Q1 2025 vs Q1 2024)
Renovation costs in Halifax increased by 1.6% from Q1 2024 to Q1 2025. Across the 15 Census Metropolitan Areas (CMAs) measured, renovation costs increased by 2.1% over this period. Renovation costs were up in all CMAs; the fastest growth was in Victoria and Regina while Toronto, Moncton and Halifax reported the slowest growth.
In Halifax, the price of exterior additions and improvements increased faster than all other project groups. In contrast, prices for windows and doors increased more modestly.
Trends
Since 2017, renovation prices grew most rapidly in the Toronto CMA while Saskatoon and Moncton reported slower growth in the RRPI.
Among project groups, Halifax renovation costs increased the most for exterior additions/improvements since 2017. For specific projects, fencing, garages and decks had the largest price increase over this period while solar panels and linoleum flooring reported the slowest growth rates.
Notes: Statistics Canada's Residential Renovation Price Index (RRPI) reports prices for 37 individual renovation project types, categorized into 8 project groups: exterior additions/improvements, flooring, heating/air conditioning equipment, interior additions/remodels, plumbing fixtures/equipment, property improvements, roofing and windows/doors. Contractor's prices include the value of all materials, labour, equipment, overhead and profit for each project (excluding value added taxes and project design costs). These data are collected for 15 Census Metropolitan Areas, including Halifax+East Hants and are not seasonally adjusted.
Source: Statistics Canada. Table 18-10-0286-01 Residential renovation price indexes, by project
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