03/08/2012 09:27 EST

Canada New House Price Index: January Sees Yet Another Increase


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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