The Daily, Thursday, February 9, 2006. New Housing Price Index

Archived Content

Information identified as archived is provided for reference, research or recordkeeping purposes. It is not subject to the Government of Canada Web Standards and has not been altered or updated since it was archived. Please "contact us" to request a format other than those available.

New Housing Price Index

The New Housing Price Index rose 0.6% in December, up slightly from November's increase of 0.5%. On a 12-month basis prices were up 5.9% compared to 5.5% the previous month.

The New Housing Price Index (1997=100) rose to 133.2 in December.

Building material and labour cost increases were the main factors pushing price levels up at the national level. A strong market in some metropolitan areas was also a factor. Land value increases contributed to price hikes in 8 of the 21 metropolitan areas surveyed.

New housing price indexes

(1997=100)

December 2005

December 2004 to December 2005

November to December 2005

% change

Canada total

133.2

5.9

0.6

House only

141.8

5.7

0.8

Land only

116.3

5.7

0.3

St. John's

126.9

3.8

0.1

Halifax

129.7

6.5

0.0

Charlottetown

115.1

3.7

-0.4

Saint John, Fredericton and Moncton

110.3

2.9

0.1

Québec

138.5

5.5

0.0

Montréal

143.8

3.7

0.0

Ottawa–Gatineau

156.2

3.4

0.0

Toronto and Oshawa

134.3

4.0

0.0

Hamilton

137.2

4.5

0.9

St. Catharines–Niagara

141.0

4.3

0.1

Kitchener

133.7

3.4

-0.2

London

128.6

5.0

0.6

Windsor

105.5

2.4

-0.2

Greater Sudbury/Grand Sudbury and Thunder Bay

100.7

1.7

-0.4

Winnipeg

138.2

10.0

1.7

Regina

144.6

5.6

0.0

Saskatoon

128.3

3.6

0.0

Calgary

166.5

18.8

4.7

Edmonton

144.9

9.4

1.1

Vancouver

107.3

4.5

0.3

Victoria

117.0

8.5

-0.8

Note:

View the census subdivisions that comprise the metropolitan areas online.

In December, 9 of the 21 metropolitan areas surveyed posted monthly gains. Calgary (+4.7%) led the way for the fourth month in a row. Price increases were once again due mainly to higher material and labour costs. Builders in Calgary also cited the cost of developing new subdivisions as a contributor to price hikes. Higher lot values also put upward pressure on prices.

Winnipeg (+1.7%), Edmonton (+1.1%) and Hamilton (+0.9%) posted significant gains, for the most part, as a result of increased material and labour costs, as well as solid demand for new housing and higher lot prices.

Monthly increases were also registered in St. John's, Saint John, Fredericton and Moncton, St. Catharines–Niagara, London and Vancouver.

No monthly changes were registered in seven metropolitan areas while Victoria (-0.8%), Charlottetown, Greater Sudbury/Grand Sudbury and Thunder Bay (-0.4% each) and Kitchener and Windsor (-0.2% each) posted declines.

On a 12-month basis, Calgary (+18.8%) posted the largest increase for new homes, followed by Winnipeg (+10.0%), Edmonton (+9.4%) and Victoria (+8.5%).

Available on CANSIM: table 327-0005.

Definitions, data sources and methods: survey number 2310.

The fourth quarter 2005 issue of Capital Expenditure Price Statistics (62-007-XIE, $20/$59) will be available in April.

For more information, or to enquire about the concepts, methods or data quality of this release, contact our Client Services Section (613-951-9606; fax: 613-951-1539; infounit@statcan.gc.ca) or Randy Sterns (613-951-8183; sterran@statcan.gc.ca), Prices Division.