Statistics Canada has made known that the price index for new apartments has gone up by 0,7 % from one year to the other in November of 2008. This is more slowly however if one compares with the growth of 1,5 % that one noticed in October. It is even the weakest increase in 12 months that has been registered since August of 1999.
Thus, prices have decreased by 0,3 % between October and November, bringing the price index of new apartments to 157,6 (1997 : 100), because this is the second consecutive monthly decrease for the whole of Canada.
The strongest increase from one year to the other has been noticed in St-John's (+ 25,6 %). Contractors particularly had to face cost increases for building materials and for manpower.
Decreases have been noticed particularly in Vancouver and in Victoria. In Quebec City growth rates over a period of 12 months have settled at 5,4 %, whereas prices have increased by 4,6 % in Montreal.