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- Canada’s new housing prices gain 0.7 percent in August
Canada’s new housing prices gain 0.7 percent in August
Statistics
Canada reported on Monday the New Housing Price Index (NHPI) rose 0.7 percent
m-o-m in August, following a 0.4 percent m-o-m gain in the previous month.
According
to the report, new home prices increased in 13 out of the 27 census
metropolitan areas (CMAs) surveyed in August, with London (+3.9 percent m-o-m)
recording the largest monthly advance in new home prices amid supply shortages
in the housing market. New home prices also went up in Ottawa (+2.9 percent
m-o-m) and for the aggregate of Saint John, Fredericton and Moncton (+1.7 percent
m-o-m). At the same time, Edmonton (-0.5 percent m-o-m) and Saskatoon (-0.1 percent
m-o-m) registered lower prices in August, while prices were flat m-o-m in the
other 12 CMAs included in the survey.
In y-o-y terms, NHPI climbed 12.2 percent in August,
following an 11.9 percent jump in the previous month.
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