Economic growth played a pivotal role in driving up average Canadian reconstruction costs by 3.31 per cent in 2015.
Xactware's 2015 Property Report for the Canada provides a detailed overview of how reconstruction costs changed at the national and provincial level. The report explains how storm activity, which was lower in 2015 than 2014, affected claim trends throughout the year.
In addition, the report includes findings on these key areas:
- The average value of property repair estimates by month and type of loss (such as wind, water, and hail)
- A comparison of home market value and reconstruction cost trends
- Trends for commonly used building materials (such as lumber, drywall, carpet, and roof shingles)