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New home prices weaken in Canada
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Published: 7:48 am
7 B# ]; R( L X& s3 i0 _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.. P8 @$ ^& x, i; {1 j0 B+ l7 q6 \: e
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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.% j* U2 A, F7 O( D9 R
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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.
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( j ^- R$ H r3 v; Z6 ]/ H"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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( D- Z# ^4 x( C$ h( u b7 bPrices 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.% ^: @1 K6 y& W' k+ R6 T0 S' r
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In Edmonton, the year-on-year rate slowed to 8.1 per cent - the ninth straight month of decelerated growth. % H4 w+ B" k) U6 C( M: b3 U
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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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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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In Newfoundland and Labrador "a strengthening economy, coupled with increased material and labour costs, has contributed to record increases," Statistics Canada said.: ^ e3 J1 _3 _
. @9 @" v) z' p, O$ _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.+ ^, e" t+ Y& k6 I4 P
4 a+ ?" a/ t# NNova 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.4 X- S; H0 q; q0 a0 c
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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.
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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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" ?0 e1 y3 l* y: b. K© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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