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New home prices weaken in Canada, n) {9 w+ D r# `+ a, V' ?
Canwest News Service1 o& O* Y- Z3 R1 q/ C
Published: 7:48 am
+ _1 K" J/ t N: b6 eOTTAWA - 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 J" e6 U( s2 v
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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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" m9 D# k8 V0 c: Q% p+ F# U: J"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.
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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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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. e( O9 l) L( s2 r' W# A
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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.- y0 q) q% w5 G% K' A
( t" ^" R3 D. j# O lPrices 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.
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1 Q5 q) p1 I6 ~$ S# PIn Newfoundland and Labrador "a strengthening economy, coupled with increased material and labour costs, has contributed to record increases," Statistics Canada said.
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3 G0 ]# @4 _) UPrices in St. John's rose 16.3 per cent in April, up from the year-over-year increase of 12 per cent in March.& n, R* V7 z1 P. [6 J
# k' I- T! |- ENova 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.( I* m+ w! x1 A- e7 F7 g' \' D
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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.& m# L9 d5 B6 `' f% X4 U5 O! D
: I: I( w& I/ f. ^, L9 N) I( o"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."! o7 f- R3 K/ |1 ]# ~2 {
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s, o* T+ I- t4 ^0 r$ P0 V© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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