Statistics Canada releases new housing price index

Statistics Canada says its new housing price index rose 0.4 per cent in July compared with June.

The agency says prices have increased at the national level for 16 consecutive months.

The new housing price index measures the changes in the selling prices of new homes.

The combined region of Toronto and Oshawa, Ont., was the biggest driver in the overall increase in July as it gained 1.0 per cent. Statistics Canada says builders reported market conditions and new list prices as reasons for the increase.

Victoria gained 0.8 per cent, Hamilton 0.7 per cent and Vancouver 0.6 per cent.

Compared with a year ago, the index was up 2.8 per cent in July. The combined region of Toronto and Oshawa was the biggest driver with a 7.0 per cent increase over the 12-month period.

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