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New home prices weaken in Canada7 v7 {0 [) J7 }8 v1 X) { I& c
Canwest News Service
1 N o, W' a% R# @; J# N' |Published: 7:48 am
8 ]$ t o) q; P/ |- [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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. b0 R: H. M; r3 z1 ?2 _& {2 JApril'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., R1 L/ r$ I$ S. W" Z- I: ?
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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.# i* S5 L, X# ~# {* u
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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. ! P5 Y/ l/ `1 C" G2 N
8 e7 l, U8 } S' _1 U' k"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."4 S% G; K4 _+ Y2 F0 Z; n
, t& \% M( o0 G$ W8 UPrices 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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. { f& T/ v2 f. dMeanwhile, 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.9 p7 n) e% J0 Z' Y! U9 Z
2 L0 {& u' s6 r \0 e. MIn 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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, [ {$ g( Z" EPrices in St. John's rose 16.3 per cent in April, up from the year-over-year increase of 12 per cent in March.$ K1 { z8 p) @4 o: c
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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." [# l. N' h' K% u6 `& ~6 o- G
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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.! _: P1 h& U: s9 N$ x2 \
0 f8 j' q" t3 ?6 ~6 I"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."% W+ D7 r$ D. B; [/ B2 K* _) n$ ?1 U
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© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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