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New house prices increase in August

OTTAWA - The New Housing Price Index increased 0.1 per cent in August after a 0.1 per cent decrease in July.

OTTAWA - The New Housing Price Index increased 0.1 per cent in August after a 0.1 per cent decrease in July.

Statistics Canada reports the top contributors to the monthly increase were Toronto, Hamilton and Oshawa, Ont., along with Montreal.

Prices increased the most in Hamilton (up 0.9 per cent), followed by Windsor, Ont., and Winnipeg (both up 0.4).

StatsCan attributed Hamilton's increase in part to builders moving to new areas with higher land development fees, while Winnipeg prices rose due to higher lumber and steel costs and in Windsor some builders reported higher operating costs.

Saint John, Fredericton and Moncton, N.B., along with Ottawa–Gatineau, Calgary and Greater Sudbury and Thunder Bay, Ont., all recorded decreases of 0.1 per cent.

Prices were unchanged in 10 of 21 metropolitan areas in August.

Year over year, the index was up 2.9 per cent in August.

 
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