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New home prices weaken in Canada
8 s ?& k) U# a$ J8 F( S/ mCanwest News Service+ B& m6 w/ U# ?5 N, M7 j
Published: 7:48 am
0 x: k. S9 v0 ~5 D5 N+ ]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.0 {" h4 M+ U$ D6 k- u
& T( a+ q& E' m1 {2 vApril'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.
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* k7 |0 p; ^$ U0 @+ m2 g. j"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.' Y3 i# }( e- P0 O! C7 ]
" z+ E9 s. Y2 z$ g, J/ TIn contrast to strong markets in Saskatchewan and parts of Atlantic Canada, home prices in oil-rich Alberta showed more signs of cooling. N K4 h6 ?6 u% g7 c# M
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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."" ^) {) J/ Q B' U, c
0 ^4 k( n0 o$ E% y! W% ^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.
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, Z- z3 [* G1 B$ O! Q9 d: jIn 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./ d% I7 A9 u+ G/ E- U q% G1 m1 s6 n
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Prices 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.5 i3 o- X" X9 y% G" O
& n' w; F) O" M% {2 M( `$ }In Newfoundland and Labrador "a strengthening economy, coupled with increased material and labour costs, has contributed to record increases," Statistics Canada said.2 ^+ N4 l0 w9 w# ^% D3 D6 O
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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.
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. u4 |$ Z; @6 m& }7 s. X+ l: I* ONova 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.
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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."0 C; W. R6 d0 y. L7 P
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© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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