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New home prices weaken in Canada2 Z0 _) {" N% l. V
Canwest News Service
Q7 }' F, y7 q* ?6 N( Q. nPublished: 7:48 am! H7 E6 r; f, k
OTTAWA - 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.
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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./ q* A% x. b7 B4 n! h% |* v
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"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.3 x& V8 I/ l6 Q3 X) |
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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. 1 [$ \0 B, k2 z2 w( j
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"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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Prices 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.( n3 d2 z- }* I z. |5 Z6 U
! {/ ~5 L8 F4 S9 QIn Edmonton, the year-on-year rate slowed to 8.1 per cent - the ninth straight month of decelerated growth. 0 z' S* O+ l g7 o! A: J& n
& c) o( P6 e6 S) }" x4 ^6 GMeanwhile, 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.& A! A9 {* j8 `" }( N) Q
$ ]% G; l8 E, a2 I( {! ?, S0 p% cPrices 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.$ o. O7 e& I+ r) Q" f4 R& o* G5 h8 n7 U/ W
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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.& L* Q) F+ m* E, ~
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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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"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.8 |5 ~: ?1 x% V* i- i* \, a
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"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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