New House prices decreased in Edmonton
Friday, December 11th, 2009
People walk past new homes that are for sale in Oakville, Ont. New house prices went up for the fourth straight month in October but are still down from last year, Statistics Canada said Friday.
New house prices higher in October
Statistics Canada says housing prices were on the rise in October.
The agency’s New Housing Price Index rose 0.3 per cent in October, its fourth straight monthly increase. The index rose by 0.5 per cent in September.
Prices increased the most in Quebec City, where they were up 1.1 per cent, followed by Vancouver, at 0.7 per cent. Hamilton, Sudbury and Thunder Bay, Ont., all registered 0.5 per cent increases.
Prices went up in Quebec City in part due to a scarcity of land and increased building costs, the agency noted.
Two cities recorded monthly decreases in new housing prices – Charlottetown, with a 0.7 per cent drop, and Edmonton, at 0.3. In both cities, prices were lower because builders slashed prices to remain competitive, the agency said.
Year over year, the index was down 2.1 per cent in October following a 2.7 per cent decline in September. The largest decreases continue to be in the west, Statistics Canada said.
