The price of a new Calgary home was up between November and December but down from the previous year according to Statistics Canada NHPI released today. Calgary’s index was up +0.2% in December but down -0.1% year-over-year.
Nationally, the index rose 0.1% in December and up 2.5% y/y.
The largest year-over-year price increases were recorded in Toronto and Oshawa (+6.3%), Regina (+5.3%) and Winnipeg (+4.6%).
Among the 21 metropolitan regions surveyed, 4 posted 12-month price declines in December, with Victoria (-1.6%) posting the largest decrease.
Statistics Canada reports that:
- Toronto & Oshawa: price increases were primarily the result of good market conditions and increased land values.
- Montréal: good market conditions were reported as the main reason for the rise in prices while in Québec, some builders reported that higher material and labour costs contributed to the increase.
- Hamilton & Vancouver: declines were the result of some builders reporting lower negotiated selling prices.