BUSINESS

New House Prices: Canada Sees Another Jump In August, StatsCan Says

10/11/2012 09:02 EDT | Updated 12/11/2012 05:12 EST
AP
OTTAWA - Statistics Canada says its new housing price index rose 0.2 per cent in August, after a 0.1 per cent increase in July.

The combined metropolitan regions of Toronto and Oshawa, as well as Calgary, were the top contributors to the growth.

In Toronto and Oshawa, market conditions were the primary reason for higher prices, while Calgary builders reported that the main factors were increased material and labour costs, as well as market conditions.

The largest monthly price advance in August occurred in the metropolitan region of Quebec City, with prices up 0.6 per cent, and in London, Ont., which recorded a 0.5 per cent increase.

In both areas the increases were primarily the result of higher material and labour costs.

Prices declined 0.4 per cent in Victoria and 0.1 per cent in Charlottetown, while they were unchanged in nine of 21 metropolitan areas surveyed.

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