Photo: Ruth Hartnup/Flickr
Statistics Canada’s new housing price index was unchanged in July — following a 0.2 per cent increase in June — while Toronto and Oshawa saw the first decrease in prices since 2010, according to a StatsCan report released Thursday.
Monthly price increases in eight metropolitan areas offset decreases in seven, the agency says.
The St. Catharines–Niagara and London areas recorded the largest monthly price increases — both up 0.3 per cent — with prices also rising in Hamilton, Kitchener–Cambridge–Waterloo and Calgary.
Prices were down in Ottawa–Gatineau and Vancouver, the combined metropolitan region of Toronto and Oshawa, as well as in Charlottetown, Halifax, Saskatoon and the combined region of Saint John, Fredericton and Moncton.
In six of the 21 metropolitan areas surveyed, prices were unchanged.
The index measures changes over time in the market selling prices of new residential houses — including single homes, semi-detached houses and row houses — agreed upon by the contractor and buyer.
The July index rose 1.4 per cent compared to a year ago — the smallest annual increase since 2013 — with Calgary and the combined metropolitan region of Toronto and Oshawa continuing to lead annual growth.