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New home prices weaken in Canada4 K; Q' i1 B6 q" ~! t& ^) T+ H" e8 Y
Canwest News Service3 ]4 s2 L3 ~: _1 D3 m. t- J
Published: 7:48 am p3 Y q9 V6 i9 ^7 w1 S
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.5 K- _1 B) k8 H' J) \1 t' D) u7 M. l
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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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1 y3 Z1 [1 P+ o' u4 e. { f"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 Z0 f7 ?3 u+ F' }7 B
3 }6 [+ B2 T. K8 vIn contrast to strong markets in Saskatchewan and parts of Atlantic Canada, home prices in oil-rich Alberta showed more signs of cooling. / W1 I- ~0 l4 m& D
$ i2 Q4 T! q, E+ [$ E4 s* V3 P"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."3 z0 W+ w" z0 A2 X
4 u6 L. \: ^5 C8 f. V0 }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.! y- G/ H' \; T" z& { d2 z
+ W- q* \1 C$ J) q# I1 c) vIn Edmonton, the year-on-year rate slowed to 8.1 per cent - the ninth straight month of decelerated growth. / U; S1 I+ |! R
6 k& P) c0 h2 r& pMeanwhile, 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.& l- p9 r' C2 t5 r2 M3 S9 d
$ m# T+ N- S8 }" m7 v# GIn Newfoundland and Labrador "a strengthening economy, coupled with increased material and labour costs, has contributed to record increases," Statistics Canada said.# `; w3 f3 z1 I
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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.+ C( K4 {# |6 C$ W1 J8 Z) W
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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.1 f$ v9 W$ ]" E6 H3 q) c' J
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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.% k: x0 W) @! B9 `3 K6 k+ 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."0 ], F- ? X, h+ @! Q
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( w2 N( U k9 u7 P$ z© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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