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New home prices weaken in Canada* N' [. v2 d' m) s0 c' l" X4 U) \
Canwest News Service
3 r/ j: ] L$ }5 s# I$ ~" Z! @Published: 7:48 am
: }: }9 w7 O7 A' ]5 y; HOTTAWA - 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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4 k9 b& k) O$ r U. s"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.2 R, h" O/ c/ q/ Y7 `" 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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1 e6 y2 a$ E4 g. u7 F$ o"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.
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. ^. ~1 r, _* r' u9 {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.! y; K# {! u, N8 A0 b; f
* n0 Z7 j- I8 L8 M8 P, V* bPrices 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.- p/ y/ ?% S9 i3 f9 {1 i/ R3 U
9 R% _% D5 Q5 m: eIn Newfoundland and Labrador "a strengthening economy, coupled with increased material and labour costs, has contributed to record increases," Statistics Canada said.% `5 b9 F4 I4 x* a, `
) X' z, ]/ v4 Z- c1 DPrices 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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! w) Y1 ^4 `9 _& L2 ^% y" YNova 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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9 x* v0 r! ~5 q! m2 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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"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."3 _/ P& a0 W; v* H9 @) M1 m' |
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© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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