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New home prices weaken in Canada/ u1 l. \% J; ^ A
Canwest News Service
/ i: P# @! I0 m6 d% \4 I# bPublished: 7:48 am
0 b0 L. p- @ j) V# pOTTAWA - 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.: o1 y9 F+ n- z: _7 O4 i' Z. X* ^/ a9 V
) G+ A; N2 d @ A/ HApril'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. m+ Y( @9 P$ e) S
; N4 @: _& ?, T/ i' G0 N7 r, wIn 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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"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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% s! N/ T e- P9 H2 S& ~# j8 y' gPrices 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.2 ^2 ^1 m% }% ^) f
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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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$ c5 \, Y- d3 o0 \# xMeanwhile, 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.- ]: ~# Y7 w- e( U7 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.
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3 k# S' R' r$ `6 [/ m8 zIn Newfoundland and Labrador "a strengthening economy, coupled with increased material and labour costs, has contributed to record increases," Statistics Canada said.
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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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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.% ?- Z0 d/ I l: H6 z& K
! q: j$ J) A3 q' M2 b7 _"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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+ x0 v5 t/ e T) R* R6 m( u& L"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.": P, S# P# ]2 L6 }% ]% M7 I* M: a
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; q) z C. v% N4 e. x© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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