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New home prices weaken in Canada/ _! _7 C! a4 B* F
Canwest News Service
8 M+ o g: J/ \2 R- bPublished: 7:48 am6 y3 P( |( Q; Q( O/ x
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.6 p2 H0 y$ @+ G$ k0 Q% |4 r) [
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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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"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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( L F5 L7 E# n3 F- K: ^- XIn contrast to strong markets in Saskatchewan and parts of Atlantic Canada, home prices in oil-rich Alberta showed more signs of cooling. - D/ v( A i! Z8 f
3 h$ a2 S" u: p7 a' x6 ^; n* @6 G"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.". q0 W u% H' Z, r7 l
* ]8 p. J ~7 b7 o7 k2 GPrices 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.# m4 k m3 K+ L: n8 _6 Z7 }
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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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! m. L4 G6 {7 a' E* nMeanwhile, 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.( E; J3 u, X3 x3 A$ U
, H/ y/ [+ |$ {9 U6 m8 T7 rPrices 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.5 I3 f s$ G' Y$ P' }& X: _3 M4 w
- j+ Z4 u0 {% b- `: yIn Newfoundland and Labrador "a strengthening economy, coupled with increased material and labour costs, has contributed to record increases," Statistics Canada said." \2 p% j* x; H7 l5 U3 D" F
2 X. z( i) d. pPrices in St. John's rose 16.3 per cent in April, up from the year-over-year increase of 12 per cent in March.4 |' x# Z4 ]! b0 s r+ I0 P
f$ O, Q9 D$ g; c6 x) [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.: \9 b0 X3 j* v
k% {2 y/ M+ s; H; t4 L"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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2 c; E+ m" Z/ s# E- B. ?" h"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."1 Q/ i6 C6 e2 B- V: \
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© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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