New Home Prices on the Rise
By on Feb 14, 2011
Statistics Canada has released its new home price index for the month of December.
Despite projections of a decrease, the index rose 0.1%in December, off of a 0.3% rise in November, the fifth straight month that Canada has seen an increase in the cost of new construction homes.
The main contributors to this increase in the greater Toronto Area was Toronto and Oshawa, which where both up 0.2%. The largest decrease was Windsor, which saw a decrease of 0.6% vs. November of 2010.
Year over year, the increase was up 2.3% vs. December 2010, which continued the positive trend that we have seen since January of 2010. The main contributors to the year over year increase where Toronto and Oshawa at a 3.3% price increase, and Hamilton at a 2.2% price increase, a close third.
The New Housing Price Index measures the price of a new construction home over a specified time. It is designed to measure the changes in the selling prices of new homes over a period of time.
Statistics Canada produces statistics that help Canadians better understand their country, its population, resources, economy, society and culture.
