The New Housing Price Index (NHPI) rose 0.3% in June, following a 0.4% advance in May.
The metropolitan region of Toronto and Oshawa was the top contributor to this rise and registered the largest increase of the 21 metropolitan regions surveyed in June.
Between May and June, prices in Toronto and Oshawa increased by 0.8% followed by Winnipeg (+0.7%).
In Toronto and Oshawa, the price increases were primarily a result of good market conditions. Builders in Winnipeg cited higher material costs as the main reason for the price increase in that metropolitan region.
In June, prices remained unchanged in 10 of the 21 metropolitan regions surveyed.
The most significant monthly price decline was recorded in Calgary (-0.3%), as some builders offered promotional pricing to generate sales.
Year over year, the NHPI was up 2.1% in June following a 1.9% increase in May. The main contributors to the advance in June were the metropolitan regions of Toronto and Oshawa as well as Montréal.
The largest year-over-year price increase was in Toronto and Oshawa (+4.7%) followed by Winnipeg (+4.4%).
Compared with June 2010, contractors' selling prices were also higher in St. John's (+4.3%), Regina (+3.9%), Kitchener–Cambridge–Waterloo (+3.6%) and Montréal (+3.4%).
Among the 21 metropolitan regions surveyed, 8 posted 12-month price declines in June, led by Windsor (-4.3%) and Victoria (-1.7%).
© Statistics Canada
- Thursday, August 11, 2011