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New home prices weaken in Canada3 g* W' d; x- }) ]
Canwest News Service& V8 \. j$ P H: t: W
Published: 7:48 am9 a+ J+ B: G' N7 l
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.
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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.9 u+ ^* E Z5 t8 E/ k C7 N, 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.
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. K/ [1 V* _- q" {8 \( K"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." |& V, T* f" ]0 a$ p0 m: Z
9 g' j& K. y& `( n# 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.
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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.
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2 M3 q9 M+ S" ~ _4 ^4 F! b; dPrices 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.$ f6 M$ E, A7 H/ S7 I w6 A) l
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In Newfoundland and Labrador "a strengthening economy, coupled with increased material and labour costs, has contributed to record increases," Statistics Canada said.4 W: b5 \4 P- o3 d
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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.* f8 i) L% w+ O; x
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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.; z& T* U( p' ~! g: Z. e
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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.) p/ R2 C9 y; Q$ t4 I1 u
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"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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