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New home prices weaken in Canada- R9 n/ f: W6 `& F, y9 h
Canwest News Service
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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. f* Z( G6 C( | z& C0 F
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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.# A3 ?7 F Q( ` t }
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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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6 ?$ M+ P. B1 F2 s& E( D5 _: \In contrast to strong markets in Saskatchewan and parts of Atlantic Canada, home prices in oil-rich Alberta showed more signs of cooling. ! k. Y7 X1 N" E1 Q w$ Z. X: D
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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.
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In Edmonton, the year-on-year rate slowed to 8.1 per cent - the ninth straight month of decelerated growth. , ]2 ]. n; r# r9 r
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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.: T( s" T$ F( \6 z. P
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Prices 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.8 S. T% ^' f% b. J8 ~: q2 s5 P
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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.+ b5 K& R* N3 h+ C
8 a/ Z1 }6 `* l$ XPrices 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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% W8 }0 D5 n% Z( F& {9 GNova 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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"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. C* s+ M, d" ?. g: j
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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."1 Q/ m! f5 `; D. I$ C* A( v1 A6 l1 I
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© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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