The New Housing Price Index (NHPI) rose 0.3% Canada-wide in April, following no change in March, according to Statistics Canada. Year over year, the NHPI was up 1.9% in April following an identical increase in March.
Between March and April, Toronto and Oshawa (+0.6%) as well as Ottawa–Gatineau (+1.3%) were the top contributors to the NHPI’s upward movement. Both metropolitan regions registered the largest increases of the 21 metropolitan regions surveyed.
The most significant monthly price declines were in Victoria (-0.8%) and the metropolitan regions aggregation of Saint John, Fredericton and Moncton (-0.5%).
In April, prices remained unchanged in 7 of the 21 metropolitan regions surveyed – including Calgary.
Calgary new home prices remained unchanged between March & April. Year-over-year, the index was down -0.2%
Source: Statistics Canada
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About the New Housing Price Index
The New Housing Price Index measures changes over time in the selling prices of new residential houses agreed upon between the contractor and the buyer at the time of the signing of the contract. It is designed to measure the changes in the selling prices of new houses where detailed specifications pertaining to each house remain the same between two consecutive periods. The prices collected from builders and included in the index are market selling prices less value added taxes, such as the Federal Goods and Services Tax or the Harmonized Sales Tax.
