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New Housing Price Index
The cost of new housing rose again in November. Prices were up 0.5% nationally to reach 147.5 (1997=100). This resulted in a 12 month increase of 11.4% in contractors' selling prices.
Prices advanced in 15 of the 21 metropolitan areas surveyed. Edmonton had the largest monthly increase at 2.1%, followed by Regina (+1.9%), St. Catharines–Niagara (+1.3%) and Calgary (+1.1%). Higher costs for construction materials, labour rates and developer increased lot values were the contributing factors. Winter construction cost increases for excavating and concrete work were cited in Regina.
Gains were also observed in St. John's, Charlottetown, Halifax, Montréal, Ottawa–Gatineau, Toronto and Oshawa, Hamilton, Kitchener, Greater Sudbury / Grand Sudbury and Thunder Bay, Winnipeg and Vancouver. Of the 15 metropolitan areas showing increases, land prices rose in six.
| New housing price indexes | |||||
|---|---|---|---|---|---|
| November 2006 | November 2005 to November 2006 | October to November 2006 | |||
| (1997=100) | % change | ||||
| Canada total | 147.5 | 11.4 | 0.5 | ||
| House only | 157.3 | 11.8 | 0.4 | ||
| Land only | 128.2 | 10.6 | 1.0 | ||
| St.John's | 132.2 | 4.3 | 0.6 | ||
| Halifax | 131.4 | 1.3 | 0.5 | ||
| Charlottetown | 118.0 | 2.1 | 0.6 | ||
| Saint John, Fredericton and Moncton | 113.6 | 3.1 | 0.0 | ||
| Québec | 142.7 | 3.0 | 0.0 | ||
| Montréal | 150.3 | 4.5 | 0.6 | ||
| Ottawa–Gatineau | 161.3 | 3.3 | 0.4 | ||
| Toronto and Oshawa | 138.8 | 3.4 | 0.4 | ||
| Hamilton | 145.0 | 6.6 | 0.3 | ||
| St. Catharines–Niagara | 147.2 | 4.5 | 1.3 | ||
| Kitchener | 137.5 | 2.6 | 0.2 | ||
| London | 134.3 | 5.1 | -1.0 | ||
| Windsor | 104.4 | -1.2 | -0.9 | ||
| Greater Sudbury / Grand Sudbury and Thunder Bay | 102.9 | 1.8 | 0.4 | ||
| Winnipeg | 148.4 | 9.2 | 0.6 | ||
| Regina | 159.4 | 10.2 | 1.9 | ||
| Saskatoon | 144.6 | 12.7 | 0.0 | ||
| Calgary | 238.2 | 49.8 | 1.1 | ||
| Edmonton | 204.7 | 42.8 | 2.1 | ||
| Vancouver | 116.1 | 8.5 | 0.1 | ||
| Victoria | 117.6 | -0.3 | 0.0 | ||
| |||||
Four metropolitan areas registered no monthly change. London (-1.0%) and Windsor (-0.9%) showed the only decreases.
Calgary (+49.8%) posted the largest 12 month increase followed closely by Edmonton (+42.8%). Saskatoon (+12.7%), Regina (+10.2%), Winnipeg (+9.2%) and Vancouver (+8.5%) also had noteworthy year-over-year gains.
Available on CANSIM: table 327-0005.
Definitions, data sources and methods: survey number 2310.
The fourth quarter 2006 issue of Capital Expenditure Price Statistics (62-007-XWE, free) 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; Prices-prix@statcan.gc.ca) or Randy Sterns (613-951-8183; randy.sterns@statcan.gc.ca), Prices Division.
