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Canadian Press
September 9, 2004
OTTAWA -- A favourable housing market and higher prices for building materials and labour continued to push up prices for new houses across the country in July, says Statistics Canada.
The price of new homes increased six per cent in July compared with the same month last year, according to the agency's new housing price index, which is based on contractors' selling prices.
"This was down slightly from the 6.2 per cent annual increase in June, which was the biggest 12-month gain since February 1990 when prices advanced 7.1,'' the agency said Thursday.
Land prices increased in three of 21 metropolitan areas surveyed.
Prices in Victoria rose by 9.3 per cent, the largest 12-month increase, followed by Winnipeg at 8.5 per cent and Ottawa-Gatineau at 7.8 per cent.
On a monthly basis, prices were up 0.2 per cent across the country, a sharp deceleration from June when the monthly increase was 0.7 per cent, the agency said.
"Of the centres with the strongest growth, St. John's, Nfld., led the way with a monthly increase of 1.2 per cent, followed by St. Catharines-Niagara at 0.9 per cent and Victoria at 0.8 per cent.
Prices in New Brunswick for Saint John, Fredericton and Moncton, and in Kitchener, Ont., dropped 0.2 per cent as a result of competition.
© Canadian Press 2004
September 9, 2004
OTTAWA -- A favourable housing market and higher prices for building materials and labour continued to push up prices for new houses across the country in July, says Statistics Canada.
The price of new homes increased six per cent in July compared with the same month last year, according to the agency's new housing price index, which is based on contractors' selling prices.
"This was down slightly from the 6.2 per cent annual increase in June, which was the biggest 12-month gain since February 1990 when prices advanced 7.1,'' the agency said Thursday.
Land prices increased in three of 21 metropolitan areas surveyed.
Prices in Victoria rose by 9.3 per cent, the largest 12-month increase, followed by Winnipeg at 8.5 per cent and Ottawa-Gatineau at 7.8 per cent.
On a monthly basis, prices were up 0.2 per cent across the country, a sharp deceleration from June when the monthly increase was 0.7 per cent, the agency said.
"Of the centres with the strongest growth, St. John's, Nfld., led the way with a monthly increase of 1.2 per cent, followed by St. Catharines-Niagara at 0.9 per cent and Victoria at 0.8 per cent.
Prices in New Brunswick for Saint John, Fredericton and Moncton, and in Kitchener, Ont., dropped 0.2 per cent as a result of competition.
© Canadian Press 2004
