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New home prices weaken in Canada0 s9 o c: O6 H( K/ T9 @
Canwest News Service8 `: i3 u9 U) `: A! c
Published: 7:48 am/ u6 n" a0 z8 r. k8 c3 ^
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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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. v: K% `( D, ]
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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.
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R8 E7 {! s: D9 ?In contrast to strong markets in Saskatchewan and parts of Atlantic Canada, home prices in oil-rich Alberta showed more signs of cooling. # S% R) N3 _+ Y% y p$ X h7 Q1 z# s3 J
8 I2 Y. D% [. 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."
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1 I% p! L1 z; D- Q' T. a( APrices 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.- ]$ J9 @+ R2 G6 X, l8 b6 e
. \& K0 f! ?* }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! L# e& |; TMeanwhile, 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.( c' |! R) w: D; _3 Y8 ]( S c
# J+ [- m9 s9 _ F! j _In Newfoundland and Labrador "a strengthening economy, coupled with increased material and labour costs, has contributed to record increases," Statistics Canada said.$ T+ M3 k/ E: }) G# h3 \
- x. l# B, {4 ^& f- `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.
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! H& A o! l) K( W: fNova 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.
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& o! ~8 A! t8 p& p"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.2 N$ y; Q# ?' q) P
, [& H4 W+ a$ n"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."
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© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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