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New home prices weaken in Canada
. }3 ?* ?, K" O* H1 ~* @/ WCanwest News Service$ F$ p4 w4 R R! M: |
Published: 7:48 am7 A- ~% k/ u7 l' k) Y: o( M
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." |$ W( P' w; h& j( ~* M1 l
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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.. W- L3 x3 j( b5 V H( G# X
0 _' b8 p6 B" q; d8 }3 W7 Y"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.: \, G( N7 Q8 E' ^1 I" a3 D
8 i3 F6 P1 K+ \8 l. S# n# QIn 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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( B( O; S! k6 H5 `5 C"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."# K: `5 J# Z9 G, T4 Z* e
: ]% n& s6 k M1 C* |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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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.' O1 v2 T% `" q2 `
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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.3 b9 k0 l7 n; |3 }2 g
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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.
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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.3 _; v7 u. E: d& [
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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.. t1 t% Q: O+ C0 m0 A) F
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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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) i% }! ~8 n7 R0 Z. U"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."- H" ^* d) a% h1 Q
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2 d; _+ P y9 B) D© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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