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New home prices weaken in Canada6 V3 j1 p4 o I: @. u+ V* r. ?- A1 m
Canwest News Service5 |, [7 o$ D }8 G% s9 I/ \" u) Q
Published: 7:48 am" y5 D8 R3 d; D& p1 u
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.; Q i- S/ E1 }, Q' {; ~
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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.
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5 Z) f- X- l' B* w, T* G# ~0 {# N& ?"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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+ I, f6 |3 e; IIn contrast to strong markets in Saskatchewan and parts of Atlantic Canada, home prices in oil-rich Alberta showed more signs of cooling. . W6 g t- ^9 A, j) s& F
4 | Y, l/ r! j"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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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.7 k5 k% _! {5 [1 @# l
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In Edmonton, the year-on-year rate slowed to 8.1 per cent - the ninth straight month of decelerated growth. # [2 K0 ?/ T2 C4 O: ~" U
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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." X6 {" k: p; K1 ~* l* x1 V: i
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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. S3 z7 Q. h$ r1 ^9 e6 x
9 u9 c" f. Q# ]0 XIn Newfoundland and Labrador "a strengthening economy, coupled with increased material and labour costs, has contributed to record increases," Statistics Canada said.& R, [2 M/ U, [5 n9 Z6 m* g
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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.- P' G" e" Q z/ N; X7 E5 z
" v0 b* L4 F$ Y) a4 f; j/ SNova 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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"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.* z. \4 u/ x1 N' R
& L2 J+ w! T+ h! `7 K' |% n1 M"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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