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New home prices weaken in Canada: ]2 ]3 m! G/ N' h) F
Canwest News Service& Q8 {3 B% @+ C9 _, D! f
Published: 7:48 am
- Y. N% X! ? i! Y' W ?9 g! [( OOTTAWA - 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.6 G4 I. K$ f1 B
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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.9 {& Z) E3 r4 Y% 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.( \$ y V3 T8 O! e6 Q: a& l
# G& G2 Y7 w' p: @In contrast to strong markets in Saskatchewan and parts of Atlantic Canada, home prices in oil-rich Alberta showed more signs of cooling. - Q8 Y8 g" z* {/ x% w5 {2 d
9 _$ B3 i/ C0 @7 s a"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."! @' R1 O6 V) X2 [, d
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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 G% k+ [( u5 @4 j {1 E
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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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, K" A s% X+ |6 C' o$ t) JMeanwhile, 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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( r+ i$ b$ e8 A3 T. ~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." v l7 o& x' b& X$ G# W9 d
V& t/ w7 b4 z" `( F4 d3 ]In Newfoundland and Labrador "a strengthening economy, coupled with increased material and labour costs, has contributed to record increases," Statistics Canada said./ E2 z- U5 `- R! \
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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.
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& a' a" V; ?6 |0 r* I: r6 ZNova 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., f( y# }2 T: a" t
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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.
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4 R+ g# ]0 a: v. i3 x- t"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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