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Canada New House Price Index: January Sees Yet Another Increase

Canada House Prices January

First Posted: 03/ 8/2012 9:27 am Updated: 03/ 8/2012 9:27 am

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OTTAWA -- Statistics Canada says the national average price of new houses rose 0.1 per cent in January from the previous month following a similar increase in December.

It says higher prices in Calgary and Vancouver were the main contributors to the increase in January, offsetting decreases in Victoria and St. John's, N.L.

Prices were unchanged in nine of the 21 metropolitan regions surveyed.

On a year-over-year basis, the agency's new housing price index rose 2.4 per cent, following a 2.5 per cent year-to-year increase in December.

The main contributor to this advance was the Toronto and Oshawa regions in southern Ontario.

Saskatoon posted a 0.7 per cent increase from December to January, the biggest gain in the country.

The largest monthly price decline came in Victoria, where prices were off 0.8 per cent as builders reduced prices to stimulate sales in a slower market.

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OTTAWA -- Statistics Canada says the national average price of new houses rose 0.1 per cent in January from the previous month following a similar increase in December. It says higher prices in Cal...
OTTAWA -- Statistics Canada says the national average price of new houses rose 0.1 per cent in January from the previous month following a similar increase in December. It says higher prices in Cal...
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HUFFPOST SUPER USER
piceaglauca
The picture says it all....
295 Fans
 
10:31 AM on 03/08/2012
Really nice, those houses. Send the pictures to the bagage handlers at Air Canada. That will wake them up.
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HUFFPOST SUPER USER
Norma Ward
95 Fans
10:04 AM on 03/08/2012
Here is an article that shows the 15 most and least affordable real estate markets in Canada when price is measured in terms of gross household income:

http://viableopposition.blogspot.com/2012/03/canadas-real-estate-market-sustainable.html

Nearly 50 percent of Canada's 35 major markets are considered unaffordable by a median family, making one wonder when prices will readjust downward.
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Maledictorian
55 Fans
 
12:01 PM on 03/08/2012
When buying pressure stops -- although I have no idea when that's going to happen. China has a lot of suddenly relatively wealthy people, a whole new middle class, and they want to live in a stable, freer country. Canada fits that bill...
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HUFFPOST SUPER USER
Peacefrogg
491 Fans
12:59 PM on 03/08/2012
The Chinese make their millions$$$ off of slavery, we here in Canada have rules against owning slaves, but we love the slave owners money and will continue to accept it with open arms because we really don't care about human rights and the rest of that non-sense.
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freeSpeakr
I stand on the shoulders of giants
597 Fans
12:11 PM on 03/08/2012
The bubble hasn't reached the breaking point yet. A good portion of the American economy is intertwined with Canada's through various trade agreements. Our economic interactions with the corporations that run America and own their politicians are predicated on a "sure win" basis. Tax breaks and concessions, diversion of public funds to privateers through P3s and other anti-democratic economic actions help ensure that the playing field is always tilted in their favour.

To level the playing field would mean a much larger share, well above the current 80/20 split, would go to the 80% of the populus currently "enjoying" their 20% of the wealth. Result: healthier economy/healthier democracy. Can't have that, now can we Mr. Harper?
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