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New home prices weaken in Canada
6 S& L2 f' c8 [ H! ^1 hCanwest News Service
+ O d9 m/ r( }4 M( v& sPublished: 7:48 am; p$ B) P: k4 I, y; H% t0 u3 |
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.
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. L! {% r+ O. @, s"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. , e Q) x4 B' v" ?
1 t5 c6 Q, k# N6 B"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."* I5 N, N# ^" l9 d5 L0 o
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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.
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In Edmonton, the year-on-year rate slowed to 8.1 per cent - the ninth straight month of decelerated growth.
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+ F0 K) h* ]' e% |( sMeanwhile, 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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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.
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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.1 i3 N/ y+ M+ u. F9 N$ B; K: T& E
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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.+ t0 n& q, H5 M& J( V3 o
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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.! Y2 {! K$ O5 k6 Y4 y
: G7 U8 m1 }' v& I% g5 T( A, [( u, k"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.$ B b, W }! F0 A6 X
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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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% A1 v8 [; }! a; v9 h% {) K© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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