Calgary top contributor in national advance for new home prices – New Housing Price Index rises by 0.5%

Statistics Canada reported Thursday that its New Housing Price Index rose by 0.5 per cent in Calgary for the month and by 0.2 per cent across the country.

“Builders reported that higher material and labour costs as well as market conditions were the main reasons for higher prices” in Calgary, said the federal agency.

Nationally the index rose following a 0.1 per cent increase in March and similar gains over the past 12 months.

The biggest monthly price advance was in St. John’s (one per cent), following eight consecutive months of little or no price change, said Statistics Canada.

New housing prices were also up in Hamilton (0.8 per cent), Winnipeg (0.6 per cent) and Saskatoon (0.3 per cent).

On a year-over-year basis, the NHPI rose two per cent in the 12 months to April, following a similar increase the previous month, added the federal agency.

The main contributor to the advance was the combined region of Toronto and Oshawa, where the year-over-year increase in contractors’ selling prices was 2.9 per cent.

For the fifth consecutive month, Winnipeg recorded the largest year-over-year price movement in Canada. Prices were up 5.5 per cent in April following a 5.1 per cent advance in March. Other significant year-over-year increases occurred in Calgary (4.7 per cent), Regina (3.1 per cent) and Hamilton (2.8 per cent). In Calgary, annual price gains have been generally accelerating throughout 2012 and 2013, said Statistics Canada.

© Copyright (c) The Calgary Herald

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