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February 14, 2019NEW HOUSING PRICE INDEX, DECEMBER AND ANNUAL 2018 DECEMBER 2018
The price of new housing in Nova Scotia remained flat month to month, at a level of 101.6 in December 2018. The national new housing price index was unchanged for the fifth consecutive month, remaining at 103.3.
Nova Scotia new housing prices were 0.6 per cent higher than they were in December 2017. National housing prices were flat in year over year terms for the second month in a row, as house price growth continues to slow.
ANNUAL 2018
In 2018, Nova Scotia's new housing prices were up 1.0 per cent compared to 2017. National housing prices also rose by 1.0 per cent over 2017, with British Columbia reporting the fastest annual growth (+3.3 per cent). Newfoundland and Labrador, Saskatchewan and Alberta all reported lower new housing prices compared to the previous year.
New house price growth slowed in Canada in 2018, particularly in Ontario and British Columbia. Annual price growth was slower in all provinces except Prince Edward Island and Quebec where growth was higher in 2018 compared to 2017. Saskatchewan and Alberta reported larger declines in prices compared to 2017, while the price decline in Newfoundland and Labrador was smaller.
Census Metropolitan Areas
Comparing 2018 to 2017, price growth among Census Metropolitan Areas was fastest in Ottawa, London, and Vancouver. New housing prices have declined in St. John's, Toronto, 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.
Source Statistics Canada. Table 18-10-0205-01 New housing price index, monthly