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New home prices weaken in Canada
/ K" J8 j% i- h& i9 PCanwest News Service
* c- E6 ^/ u$ a ?0 MPublished: 7:48 am/ L3 |: L# Z# Y0 |
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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- t6 l8 M, Y7 j) c9 k1 k8 j( OApril'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$ P9 F2 B3 q/ X h) o' K
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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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In contrast to strong markets in Saskatchewan and parts of Atlantic Canada, home prices in oil-rich Alberta showed more signs of cooling. 5 Z! G9 U/ G! Y; u0 Y5 ^
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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."
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: X$ Y& T9 k' M* RPrices 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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3 d, p) ^# v& ]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.8 I5 {, j% c/ O9 m5 X
' @; G w( _& x* T/ w; JPrices 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.# w8 l& c* p# V3 P4 ]5 t! D- b
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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.) n* V/ w! y( D3 E- X
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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.! x3 V0 u9 Z. v& y B/ G4 K
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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.
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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.$ L5 t7 r4 W' p& B* U% {& ~
' f( y# j3 G# E( E+ A7 j3 ?"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."+ ?4 F: N A0 B5 n& X! t" i
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© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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