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

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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Filed by Daniel Tencer  |