In a report Thursday (May 5), Statistics Canada indicated that the year-over-year growth “surpasses previous highs”.
The increase exceeded the “high (+21.9% registered in the previous quarter”.
The report covered 11 census metropolitan areas or CMAs, which correspond to major urban centres.
The biggest increases were in Calgary (31.4 percent), Edmonton (26.6 percent), and Toronto (26.5 percent).
In Metro Vancouver, the cost of home construction in the first quarter of 2022 increased 15.4 percent compared to the same period in 2021.
The Moncton CMA posted the lowest growth in costs at 8.5 percent.
All other urban centres witnessed double-digit increases.