The New Housing Price Index increased, year-over-year, by 2.3% in August compared with 2.7% in July.
On a monthly basis, prices were unchanged between July and August, with the New Housing Price Index remaining at 158.6 (1997=100).
Regionally, prices rose at the fastest pace in St. John's with an annual price increase of 23.7%. Builders reported that material and labour costs, as well as higher land development costs, contributed to the increases in this city.
![right click the chart to save it.](http://www.statcan.ca/Daily/English/081010/c081010a.gif)
Regina, which registered no monthly price change in August, had the second highest annual increase for surveyed Canadian cities at 23.1%. However, this was down from its record increase of 34.0% in April of this year.
In Saskatoon, the year-over-year increase was 8.0%, again confirming a trend of deceleration in this city. On a month-over-month basis, new housing prices decreased by 3.1% as Saskatoon builders reported slowing market conditions and stiff competition from the resale housing market.
Edmonton recorded a 12-month drop of 5.7%, which was a 23-year low, and Calgary (-1.1%) registered the lowest annual price change since November 1991.
On the West Coast, the 12-month increase for Vancouver was 1.5%. In Victoria, contractors' selling prices dropped by 0.3% year-over-year.
In Toronto, contractors' selling prices were 3.4% higher than in August last year, and 4.1% higher in Ottawa–Gatineau.
In Québec, the 12-month growth rate accelerated to 6.1%, while in Montréal, prices increased 5.2%.
![right click the chart to save it.](http://www.statcan.ca/Daily/English/081010/c081010b.gif)
Available on CANSIM: table 327-0005.
Definitions, data sources and methods: survey number 2310.
The third quarter 2008 issue of Capital Expenditure Price Statistics (62-007-XWE, free) will be available in January 2009.
For more information, or to enquire about the concepts, methods or data quality of this release, contact Client Services (
New housing price indexes | |||||
---|---|---|---|---|---|
(1997=100) | |||||
August 2008 | August 2007 to August 2008 | July to August 2008 | |||
Canada total | |||||
House only | |||||
Land only | |||||
St. John's | |||||
Halifax | |||||
Charlottetown | |||||
Saint John, Fredericton and Moncton | |||||
Québec | |||||
Montréal | |||||
Ottawa–Gatineau | |||||
Toronto and Oshawa | |||||
Hamilton | |||||
St. Catharines–Niagara | |||||
Kitchener | |||||
London | |||||
Windsor | |||||
Greater Sudbury and Thunder Bay | |||||
Winnipeg | |||||
Regina | |||||
Saskatoon | |||||
Calgary | |||||
Edmonton | |||||
Vancouver | |||||
Victoria | |||||
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