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New House Prices In Canada Up Again As Toronto, Oshawa Lead The Way

New Housing Price Index

First Posted: 09/08/11 09:50 AM ET Updated: 11/08/11 05:12 AM ET

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OTTAWA - The New Housing Price Index rose 0.1 per cent in July after a 0.3 per cent advance in June.

Statistics Canada reports the metropolitan region of Toronto and Oshawa was the top contributor to the July increase.

The agency says Charlottetown posted the largest percentage increase, at 1.3 per cent, followed by Toronto and Oshawa (0.4).

StatsCan attributed Charlottetown's price increases primarily to the fact some builders re-evaluated prices and others moved to new phases of development.

Builders in the metropolitan region of Toronto and Oshawa cited good market conditions as the main reason for their price increase.

The agency reports prices were unchanged in six of the 21 metropolitan regions surveyed.

The most significant monthly price decline was recorded in Calgary, down 0.5 per cent as some builders offered free upgrade packages and promotional pricing to generate sales.

Year over year, the national index was up 2.3 per cent.

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OTTAWA - The New Housing Price Index rose 0.1 per cent in July after a 0.3 per cent advance in June.Statistics Canada reports the metropolitan region of Toronto and Oshawa was the top contributor to t...
OTTAWA - The New Housing Price Index rose 0.1 per cent in July after a 0.3 per cent advance in June.Statistics Canada reports the metropolitan region of Toronto and Oshawa was the top contributor to t...
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avrosphere
7 Fans
11:08 PM on 09/09/2011
House prices have risen dramatically for several years now in Canda and there is
still a huge shortage of housing.

I was always told the mantra over and over again that home price rises are good
because this would encourage contruction until the increase in supply brought prices
down to a realistic level.

Despite these price increases construction is grinding to a halt and there hasn't been
a relational easing of supply from new construction in the ensuing years.
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ontariogirl
Peace!
762 Fans
02:06 PM on 09/08/2011
The market is all over the place.
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