New Housing Price Index Up Again In Canada
The New Housing Price Index (NHPI) for Canada was up 0.2% in September, following a 0.1% increase in August. The top metro areas to contribute to the increase were Toronto and Oshawa. Since last September, the NHPI was up 2.3% in September 2011. Winnipeg, Toronto, and Oshawa had the largest year-over-year increases.
Prices remained the same in 8 of the 21 metro areas included in the survey. The metro areas claiming price increases cited higher material costs, labor costs, and land values. However, the areas claiming price decreases cited slower market conditions as their reason.
Source: Statistics Canada