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New Housing Price Index
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Contractors selling prices decreased 0.2% in June compared with a 0.1% decline in May.
Between May and June, prices declined the most in Vancouver (-0.9%) followed by Edmonton (-0.8%) and Victoria (-0.5%).
In Vancouver, some builders lowered their prices to stimulate sales and sell off their houses in inventory while others offered free upgrades and cash incentives. A small number of builders did increase their prices on some popular models that were selling well.
In Edmonton, lower negotiated selling prices between builders and homebuyers are the primary reason for the monthly decrease.
The largest monthly increase in new housing prices was recorded in Saskatoon (+0.5%), followed by 0.4% increases in both Winnipeg and St. John's.
Montréal, Ottawa–Gatineau and Hamilton saw monthly increases of 0.1%.
In June, the New Housing Price Index was down 3.3% from its level in June 2008, with the largest declines registered in Western Canada.
On the Prairies, 12-month declines were recorded in Edmonton (-11.7%), Saskatoon (-10.4%), and Calgary (-8.0%).
On the West Coast, Vancouver (-9.1%) and Victoria (-7.0%) also posted year-over-year declines.
The decreases in these five Western Canadian cities follow a period of significant highs in the new housing price indexes at the end of 2007 and the beginning of 2008, when strong economic conditions and high demand for new housing pushed up contractors' selling prices.
Among surveyed cities, the largest increase between June 2008 and June 2009 was registered in St. John's (+10.3%), due to the continued strength of the local economy.
In Québec, the 12-month growth rate was 6.8%, while in Montréal, prices increased 1.9%.
Compared with June 2008, contractors' selling prices were 3.6% higher in Saint John, Fredericton and Moncton. Regina (+3.5%) and Winnipeg (+1.7%) also posted increases.
Available on CANSIM: table 327-0005.
Definitions, data sources and methods: survey number 2310.
The second quarter 2009 issue of Capital Expenditure Price Statistics (62-007-X, free) will be available in October.
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), Producer Prices Division.
Table 1
| June 2009 | June 2008 to June 2009 | May to June 2009 | |
|---|---|---|---|
| (1997=100) | % change | ||
| Canada total | 153.2 | -3.3 | -0.2 |
| House only | 160.5 | -4.5 | -0.2 |
| Land only | 137.9 | -1.4 | -0.1 |
| St. John's | 181.1 | 10.3 | 0.4 |
| Charlottetown | 121.0 | 1.1 | 0.0 |
| Halifax | 150.5 | 0.7 | 0.0 |
| Saint John, Fredericton and Moncton | 120.3 | 3.6 | -0.2 |
| Québec | 165.6 | 6.8 | 0.0 |
| Montréal | 165.3 | 1.9 | 0.1 |
| Ottawa–Gatineau | 169.7 | 0.6 | 0.1 |
| Toronto and Oshawa | 144.6 | -1.1 | 0.0 |
| Hamilton | 149.3 | -2.0 | 0.1 |
| St. Catharines–Niagara | 155.4 | -1.6 | -0.1 |
| London | 144.4 | 0.8 | 0.0 |
| Kitchener | 142.7 | 0.2 | 0.0 |
| Windsor | 103.7 | -0.1 | 0.0 |
| Greater Sudbury and Thunder Bay | 112.7 | 0.0 | 0.0 |
| Winnipeg | 182.7 | 1.7 | 0.4 |
| Regina | 250.9 | 3.5 | 0.0 |
| Saskatoon | 211.4 | -10.4 | 0.5 |
| Calgary | 228.9 | -8.0 | -0.1 |
| Edmonton | 207.5 | -11.7 | -0.8 |
| Vancouver | 113.0 | -9.1 | -0.9 |
| Victoria | 109.9 | -7.0 | -0.5 |
