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January 23, 2023NEW HOUSING PRICE INDEX, DECEMBER & ANNUAL 2022 Month-over-month (December 2022 vs November 2022)
In Nova Scotia and nationally, the price of new housing did not change from November 2022. Four provinces reported a decline, while Quebec reported an increase of 0.2%.
Year-over-year (December 2022 vs December 2021)
Nova Scotia’s new housing prices increased 3.6% from December 2021. Nationally, prices were up 3.9%.
All provinces posted gains led by Alberta and Manitoba while Newfoundland and Labrador reported the smallest year-over-year gain.
Halifax new home prices increased 3.6% year over year in December 2022. New housing price growth among Census Metropolitan Areas was fastest in Calgary. New housing price had not increased in Hamilton, Guelph and Greater Sudbury.
Annual (2022 vs 2021)
Nova Scotia new housing prices increased 3.9% on average in 2022. Nationally new housing prices increased 7.7% with gains in all provinces. Manitoba had the largest increase and Newfoundland and Labrador reported the smallest.
Most provinces reported a slower average growth in new house prices in 2022 compared to 2021. Manitoba and Alberta reported accelerating new house prices in 2022.
Halifax's new housing price index was up 3.9% for 2022 compared to 2021. All cities had growth with the fastest growth in Calgary, Winnipeg and Kitchener-Cambridge-Waterloo. The slowest growth in new house prices was reported in Hamilton.
Source: Statistics Canada. Table 18-10-0205-01 New housing price index, monthly
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