BUSINESS
11/09/2011 08:38 EST | Updated 01/09/2012 05:12 EST

Toronto top contributor as new-house prices edge up in September: StatsCan

OTTAWA - The New Housing Price Index rose 0.2 per cent in September, led by price hikes in Toronto and Oshawa, Ont.

Statistics Canada reports Winnipeg posted the largest monthly percentage increase, at 1.4 per cent, followed by Halifax (0.7).

The agency attributes Winnipeg's price increases primarily to higher material and labour costs as well as higher land values, while builders in Halifax cited higher material and labour costs.

Prices remained were in eight of the 21 cities surveyed in September.

StatsCan says the most significant monthly price declines were recorded in the metropolitan regions of Saint John, Fredericton and Moncton, N.B., as well as in Edmonton (down 0.3 per cent).

Year over year, the new-house index was up 2.3 per cent in September following similar increases in July and August.