New home prices up for 12th straight month

The cost of new homes has risen again, the 12th consecutive rise, according to Statistics Canada. Nationally, the cost of new housing rose 0.2 per cent in March, the same as in February.

Ontario and British Columbia saw the largest overall gains in new home prices with the combined Toronto/Oshawa region and Vancouver advancing 0.4 per cent. The metro with the largest gain was London, up 0.8 per cent.

Windsor and Winnipeg were both up 0.3 per cent but there were declines for Saskatoon (down 0.4 per cent) and St John’s (down 0.1 per cent) while 11 of the 21 surveyed metros saw no change.

On an annual basis, new home prices were up 2 per cent from March 2015.

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