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New home prices weaken in Canada% g; ~7 \6 ]8 c
Canwest News Service
& Y5 F$ t2 |- u4 PPublished: 7:48 am
. L, }4 k9 d5 z( YOTTAWA - 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.' X+ ^ w9 D- H! M5 {+ D) ^/ _
% N1 ^- o3 r0 b9 h% tApril'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.! ~6 {" W, q1 b! Q1 B+ F% 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. ( ?# G# }7 d4 g9 s
4 \. K% r* m! [6 z"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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0 w+ V& l3 C: F5 }, zPrices 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.; \: l+ ?( g. J7 _8 A
0 V0 H1 i) ^( t" f3 ZIn Edmonton, the year-on-year rate slowed to 8.1 per cent - the ninth straight month of decelerated growth.
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% a3 _- O" d5 T6 l6 {* C9 \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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2 z! B L+ `) s% z( S0 q9 IPrices 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.0 Y( R5 T5 y+ r
8 T# i4 l3 \ @: CIn Newfoundland and Labrador "a strengthening economy, coupled with increased material and labour costs, has contributed to record increases," Statistics Canada said.; I% T5 G& T6 V! ~2 u n1 N
/ Q1 f# e% t8 N/ wPrices in St. John's rose 16.3 per cent in April, up from the year-over-year increase of 12 per cent in March." {8 ~& t- ^* Y
5 n7 f; C& P/ a! P0 ~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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2 {9 g9 s0 k* a( n; w& G"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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% c; z' a% e5 l g"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."2 ~4 ?% D$ ]! Z& o8 ^8 N
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2 X. q$ R# [6 b4 Q1 v; K© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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