Toronto leads gains for new house prices

The price of new houses in Canada increased by 0.1 per cent in January compared to December and were up 3.1 per cent year-over-year.

However, diversity was clear across markets with Toronto showing an increase twice the national average (0.2 per cent) for the month and Vancouver down 0.1 per cent in the month, although up 3.6 per cent year-over-year.

There were higher new house prices in around half of the 27 cities covered in Statistics Canada’s data with 6 unchanged and 7 declining. The figures only cover houses, not condos and apartments.

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