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Contractors' selling prices decreased 0.6% between December and January, a slightly faster pace than the 0.1% decline observed the previous month. This resulted in a New Housing Price Index of 156.4 (1997=100).
Between December and January, prices declined 2.8% in Edmonton, followed by Calgary (-2.1%), Victoria (-1.1%) and Vancouver (-0.7%). Builders in all four cities report difficult market conditions.
In Saint John, Fredericton and Moncton, new housing prices increased 1.4% from a month earlier, as builders increased their list price or returned to list price after reporting lower negotiated prices in previous months.
In both St. John's and Saskatoon, prices increased 0.8% from a month earlier while Québec posted a monthly increase of 0.6%.
The New Housing Price Index decreased by 0.8% in January compared with the same month a year earlier. This was the first year-over-year decrease at the Canada level since January 1997.
In the Prairie region, 12-month declines were recorded in Edmonton (-10.4%), Calgary (-6.5%) and Saskatoon (-2.7%).
On the West Coast, Victoria (-4.2%) and Vancouver (-3.2%) each posted year-over-year declines.
Among surveyed cities, the largest year-over-year increase was registered in St. John's at 24.1%, followed by Regina at 21.7%.
In Québec, the 12-month growth rate was 5.7%, while in Montréal prices increased 3.8%.
Compared with January 2008, contractors' selling prices were 5.2% higher in Winnipeg, and 3.3% higher in Ottawa–Gatineau.
Available on CANSIM: table 327-0005.
Definitions, data sources and methods: survey number 2310.
The fourth quarter 2008 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 Client Services (613-951-9606; toll-free 1-866-230-2248; fax: 613-951-3117; prices-prix@statcan.gc.ca), Prices Division.
January 2009 | January 2008 to January 2009 | December 2008 to January 2009 | |
---|---|---|---|
1997=100 | % change | ||
Canada total | 156.4 | -0.8 | -0.6 |
House only | 164.4 | -1.9 | -0.7 |
Land only | 140.2 | 1.7 | -0.6 |
St. John's | 179.1 | 24.1 | 0.8 |
Halifax | 150.4 | 2.7 | 0.1 |
Charlottetown | 119.6 | -0.8 | 0.2 |
Saint John, Fredericton and Moncton | 119.9 | 3.5 | 1.4 |
Québec | 160.4 | 5.7 | 0.6 |
Montréal | 163.9 | 3.8 | 0.1 |
Ottawa–Gatineau | 169.6 | 3.3 | 0.0 |
Toronto and Oshawa | 146.5 | 1.1 | 0.1 |
Hamilton | 152.3 | 1.1 | -0.1 |
St. Catharines–Niagara | 155.9 | 2.4 | 0.2 |
Kitchener | 143.2 | 1.3 | 0.0 |
London | 143.3 | 2.1 | 0.0 |
Windsor | 103.7 | 0.4 | 0.0 |
Greater Sudbury and Thunder Bay | 112.7 | 3.2 | 0.0 |
Winnipeg | 181.4 | 5.2 | 0.0 |
Regina | 248.7 | 21.7 | 0.0 |
Saskatoon | 219.8 | -2.7 | 0.8 |
Calgary | 235.7 | -6.5 | -2.1 |
Edmonton | 222.3 | -10.4 | -2.8 |
Vancouver | 119.7 | -3.2 | -0.7 |
Victoria | 114.3 | -4.2 | -1.1 |