New house prices rise in January: Statistics Canada

The largest increase in the New Housing Price Index was in Winnipeg and Quebec, up 0.7% and 0.5% respectively.

In Winnipeg, the result was due to builders introducing new list prices, said the report, whereas Quebec’s increase was attributed to higher material and labour costs. Toronto, Montreal and Oshawa new housing prices were also up 0.4%.

Slower market conditions dropped prices 0.2% for January in Moncton, St. John and Fredericton, said Statistics Canada. In Hamilton and Edmonton, where prices were down 0.2% and 0.1% respectively, builders also reported lower negotiated selling prices.

Year-over-year, the largest increase remained in St. John’s, up 6.2% since last January. Contractor selling prices were also up 6% in Regina and 5.9% in Winnipeg.

The largest year-over-year declines were in Windsor, down 3.7%, and Charlottetown, down 1.9%.

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