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New home prices weaken in Canada0 {6 a8 ~" a- S3 r) D* _. E2 ?" N
Canwest News Service* B! ~6 f* d4 ?1 z, j
Published: 7:48 am
. v1 e7 K2 t) ]+ P3 A5 P6 dOTTAWA - 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.3 U7 }0 E4 a, M p! q% w- \! t! C
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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.' h* h, b; J5 Y x# {& m+ o
/ V% D" U6 Z' 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.! Q# V- [7 o: l0 Y. V; `
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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. ' e. y( X8 S; E
0 }+ X8 d6 c, o8 R- b8 p: w: F"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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% ~9 O2 s1 |6 [4 D! r0 d6 o xPrices 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.4 ~$ A" _, U5 j/ l5 O
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In Edmonton, the year-on-year rate slowed to 8.1 per cent - the ninth straight month of decelerated growth. & N- |6 i. x* b4 }( s
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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.
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/ ^) L- B; u# N( u2 k" c6 _" x8 ]/ }+ VPrices 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., u4 ]! o" @6 z J1 g( X, x
$ v2 \0 i, z4 E) k6 S% F; e+ @In Newfoundland and Labrador "a strengthening economy, coupled with increased material and labour costs, has contributed to record increases," Statistics Canada said.5 Y, e' a, N8 Y
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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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/ O& O* m& `9 }. vNova 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." c1 C; R* s/ A0 f! x$ n8 ^) S, A# b8 b
_' i/ N& r% U' {: B"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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% l' R6 I% i. B4 a"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."! [$ _9 K3 q% n' g% @$ S
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© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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