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New home prices weaken in Canada, A5 o9 K6 |3 I3 j! H: Z
Canwest News Service; H' d# e0 \: X" O% Y9 z7 X) W* N
Published: 7:48 am7 e$ d7 F- u! A/ d7 P$ W8 [4 ~+ J0 V4 k
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.) ?; ]& |4 A3 _/ D2 H
9 _: s& Y+ R% b$ NApril'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.# d- W" ]6 X- G8 T3 X/ c- ~# M
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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.# G e' J" |# K) M3 b/ d& `" Z" {
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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. 6 I' Z; R% a: W1 R) T0 [8 s/ `
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"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." I( X) L; B* y7 _& \1 o" T
# `- d: ~4 s: t6 yPrices 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.# f; b) Q7 k# q% t1 e' h3 @. n* O9 y# S
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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.
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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.$ J. k X Y; n
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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." e; X/ M0 v6 k v
7 s! Y2 B% h& F# D- QPrices in St. John's rose 16.3 per cent in April, up from the year-over-year increase of 12 per cent in March.
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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.' P8 O9 K8 j/ N5 P T4 h
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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.! ^' r- V8 A$ a
6 O4 f& B( T/ _" C% I; h9 h D, Q1 Q"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."2 v! Z$ [) K7 Q/ f9 {6 q
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© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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