Maritimes markets experienced the largest commercial and residential construction cost increases in Canada in the third quarter, according to a new federal government report.

Moncton, N.B., tied Saskatoon for top spot in the non-residential construction sector as their costs increased 1.7%, followed by the much larger market of Vancouver at 1.2%, Statistics Canada reported. All three centres were above the national average increase of 0.9%, which marked the lowest hike since the fourth quarter of 2020.

Office construction had the largest increase, 1.1%, among commercial asset classes nationally, followed by bus depots, shopping centres and warehouses, which each rose 1%.

In the residential sector, St. John’s, NL posted the largest construction-cost increase, 2.2%, while Halifax ranked second at 1.8%. Those Maritimes hikes contrasted with a national slowdown in residential construction-cost growth.

The 1% national increase was the lowest climb since the first quarter of 2020. Apartment building construction increased the most in the residential sector, rising 1.7%.

Results were based on a study of 11 metropolitan markets across the country. The commercial building-cost survey included bus depots with maintenance and repair facilities. Evaluated residential properties included high-rise and low-rise apartments.