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August 10, 2017NEW HOUSING PRICE INDEX, JUNE 2017 The price of new housing in Nova Scotia was unchanged in June from May (index of 100.4). Canada's new housing price index rose 0.2 per cent to 102.4 in June. In Canada, new housing prices have been on a general upward trend since 2009.
Nova Scotia new housing prices are 1.4 per cent above the level in June 2016. National housing prices are 3.9 per cent above their levels a year ago.
Across Canada, Ontario (+7.1 per cent) and British Columbia (+5.5 per cent) saw the fastest increases in new housing prices from June 2016 to June 2017. Saskatchewan, Alberta, Newfoundland and Labrador and Prince Edward Island saw declines in new housing prices.
In recent months, year-over-year growth in the Nova Scotia new housing price index has been over 1.0 per cent, continuing a generally upward trend in year over year growth. Year over year gains have shown stronger growth since mid-2016.
Year to date, new housing prices in Nova Scotia are up 1.3 per cent compared to the first six months of 2016. Canadian prices are 3.5 per cent higher year to date. The highest growth in year to date prices were seen in Ontario (7.2%), and declines in year to date prices were seen in Newfoundland and Labrador, Prince Edward Island, Saskatchewan, and Alberta.
Census Metropolitan Areas
Among Census Metropolitan Areas tracked by the new housing price index, June 2017 prices are growing faster around the Greater Toronto Area as well as in St. Catharines-Niagara, the Kitchener area, Windsor, and Victoria (year over year). New housing prices have declined in St. John's, Charlottetown, Regina, Saskatoon, Calgary and Edmonton.
Statistics Canada Note: With the release of the January 2017 NHPI data, a number of important changes have been introduced to increase the relevance of the index series. The index base period, for which the NHPI equals 100, is now December 2016. The NHPI basket has been updated with new weights for the 2017 series, its coverage has been expanded to include new CMAs and new indexes have been published for the Toronto, Ottawa and Greater Sudbury areas. Data for periods prior to January 2017 have been obtained by linking the new NHPI series, where possible, with indexes in CANSIM table 327-0046.
Source Statistics Canada, CANSIM table 327-0056
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