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New home prices dip slightly in Ottawa
By Ottawa Business Journal Staff
Tue, Jan 10, 2006 10:00 AM EST
The price of a newly-built home in Ottawa fell marginally in November.
Statistics Canada new housing price index fell 0.4 per cent between October and November, one of only two cities in Canada where the index declined. The other was Hamilton.
Nationally, the index rose 0.5 per cent in November. On a 12-month basis, new home prices are up 5.5 per cent compared to November 2004. A steady market for new housing, combined with higher building material and labour costs, pushed up new housing prices at the national level, according to the agency.
Calgary remains the nation's hottest market for new homes, where prices jumped 3.5 per cent in a single month and are now 13.6 per cent higher than a year ago.
New home prices in Calgary have risen faster than any other city in Canada since 1997. Statscan says the price of a new home has risen 59 per cent since the index was created. Ottawa ranks second, with new home prices up 56.2 per cent over the same period.
By Ottawa Business Journal Staff
Tue, Jan 10, 2006 10:00 AM EST
The price of a newly-built home in Ottawa fell marginally in November.
Statistics Canada new housing price index fell 0.4 per cent between October and November, one of only two cities in Canada where the index declined. The other was Hamilton.
Nationally, the index rose 0.5 per cent in November. On a 12-month basis, new home prices are up 5.5 per cent compared to November 2004. A steady market for new housing, combined with higher building material and labour costs, pushed up new housing prices at the national level, according to the agency.
Calgary remains the nation's hottest market for new homes, where prices jumped 3.5 per cent in a single month and are now 13.6 per cent higher than a year ago.
New home prices in Calgary have risen faster than any other city in Canada since 1997. Statscan says the price of a new home has risen 59 per cent since the index was created. Ottawa ranks second, with new home prices up 56.2 per cent over the same period.
