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New home prices weaken in Canada7 L ^7 W3 i, o( A' Q. U
Canwest News Service% y* ]1 B7 \' o2 z% `6 h
Published: 7:48 am
3 s8 i% n2 @8 `( [7 EOTTAWA - Prices for new homes in Canada rose by 5.2 per cent in April from a year earlier, the slowest pace in more than two and a half years as a weakening Alberta market continued to pull down the national average, Statistics Canada said Wednesday.' r/ `% p d( ]7 u2 t% A
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April's rate was down from a 6.1 per cent year-on-year increase in March, the federal agency said. On a monthly basis, prices were unchanged in April from March.* t; K8 l" {' j0 m$ V
1 H$ O( g! V* Q- q/ y9 S s) r"This was the third consecutive month in which the increase has decelerated, and the slowest rate of growth since September 2005, when year-over-year prices rose by 4.9 per cent," it said.
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In contrast to strong markets in Saskatchewan and parts of Atlantic Canada, home prices in oil-rich Alberta showed more signs of cooling.
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/ p7 V$ b" x. }"Edmonton and Calgary continued to experience slow market conditions," Statistics Canada said. "Competition among builders has resulted in lower prices being offered to prospective homebuyers."
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: |& G E2 m$ S% I0 p! [) K9 O) oPrices in Calgary edged up 2.5 per cent in April from a year earlier, compared to a 5.3 per cent year-over-year increase in March.! x% d! U6 k; J
. ~* u3 G6 \& [, u7 hIn Edmonton, the year-on-year rate slowed to 8.1 per cent - the ninth straight month of decelerated growth.
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Meanwhile, the Saskatchewan housing market continued to heat up in April. Prices in Saskatoon led the country for the 12th straight month, jumping 43.7 per cent from a year earlier - but down slightly from a 46.2 per cent year-on-year gain in March.
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' }1 I( z( }. } \4 V9 x+ r. S; wPrices in Regina were up 34 per cent in April from the same time in 2007, compared to a 27.8 per year-on-year increase in March.6 y) J$ p0 M5 A0 I# D
1 W, `7 T! W. ~. E% \In Newfoundland and Labrador "a strengthening economy, coupled with increased material and labour costs, has contributed to record increases," Statistics Canada said.
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Prices in St. John's rose 16.3 per cent in April, up from the year-over-year increase of 12 per cent in March.- f1 H' x& S1 V: X& r; _0 P1 Z* t
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Nova Scotia also saw strong gains, with prices in Halifax increasing 11.3 per cent from a year earlier, although that was down slightly from a record year-on-year gain 12.8 per cent in March.
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4 H9 t% G5 v; W$ x, c6 O1 X. `% M"The report adds to the growing body of evidence that indicates that the Canadian housing sector may be coming off the boil," said Millan Mulraine, economics strategist at TD Securities.
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) Q+ J$ Q4 l0 \, b"Similar behaviour has also been observed in the price of existing homes. However, it is important to note that the Canadian housing sector remains in reasonable shape and a U.S.-style correction in home prices remains highly unlikely."
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© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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