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New home prices weaken in Canada8 W( N3 F4 j) t
Canwest News Service7 ]' H( ]1 m# U! T) |& m
Published: 7:48 am
. G/ I2 _* E0 \: z" ]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.7 W$ l0 l7 Y* j: S7 X& j) L- j
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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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"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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) u0 H/ X9 _4 H. u& {$ D"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.
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$ {, G U" y: G& N& d9 EIn Edmonton, the year-on-year rate slowed to 8.1 per cent - the ninth straight month of decelerated growth.
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$ Q' k/ k- v a9 ~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.' k. N7 Q6 Q2 t6 i" ~) B6 z" h
# Z$ r! d% @* k: D% Q3 ePrices 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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; C$ V$ g7 u6 `- c8 d3 F: ?In Newfoundland and Labrador "a strengthening economy, coupled with increased material and labour costs, has contributed to record increases," Statistics Canada said.) c7 d1 Y0 }+ C" Z
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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. }( C9 e0 l' k+ \7 L. a* V
8 W: u( P2 b L8 JNova 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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8 W8 X5 L9 g; I% B# `4 e* K* F' F"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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