Statistics Canada says its new housing price index was unchanged in September, following a 0.1 per cent advance in August.
The largest monthly price increase in September occurred in Calgary (up 0.5 per cent) where new home prices have been increasing since December 2011. (Tweet this stat)
Prices rose 0.3 per cent in London and 0.2 per cent in Halifax in September. According to builders, increased construction costs contributed to the price advance in London, while higher prices in Halifax were attributed to market conditions.
New house prices fell 0.4 per cent in Edmonton and 0.3 per cent in Windsor as a result of lower negotiated selling prices. This was the largest decrease in Edmonton since June 2009.
Prices were down 0.1 per cent in both Ottawa–Gatineau and Montréal. This was the third consecutive monthly price decrease in Ottawa–Gatineau.
Prices were unchanged in 11 of the 21 metropolitan areas surveyed.
Canada’s new house price index at a glance
On a year-over-year basis, Statistics Canada’s new housing price index rose 1.6 per cent from September 2012 to September 2013 — the smallest annual increase since February 2010. Year-over-year growth in new house prices has been slowing since the latter part of 2012, Statistics Canada says.
The two main contributors to the year-over-year increase were Calgary, up 6.3 per cent, and the combined metropolitan region of Toronto and Oshawa, which climbed 1.7 per cent. (Tweet this stat)
Year-over-year prices continued to accelerate in Calgary — the increase in September was the largest since July 2007 — while annual price increases in the Toronto and Oshawa region have been trending downward since the start of 2013.
Also up year-over-year was Winnipeg (up 4.6 per cent), St. Catharines–Niagara (up 3.2 per cent) and both Hamilton and Halifax (up 2.5 per cent).
Notable Year-over-year declines include Ottawa–Gatineau (down 0.3 per cent), Vancouver (minus 1.2 per cent) and Victoria (down 0.6 per cent).
All year-over-year new house price fluctuations