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New Housing Price Index, September 2017

Released: 2017-11-09

New Housing Price Index — Canada

September 2017

0.2% increase

(monthly change)

New Housing Price Index — N.L.

September 2017

0.0%

(monthly change)

New Housing Price Index — P.E.I.

September 2017

0.0%

(monthly change)

New Housing Price Index — N.S.

September 2017

0.1% increase

(monthly change)

New Housing Price Index — N.B.

September 2017

0.0%

(monthly change)

New Housing Price Index — Que.

September 2017

0.1% increase

(monthly change)

New Housing Price Index — Ont.

September 2017

0.1% increase

(monthly change)

New Housing Price Index — Man.

September 2017

0.3% increase

(monthly change)

New Housing Price Index — Sask.

September 2017

-0.2% decrease

(monthly change)

New Housing Price Index — Alta.

September 2017

0.0%

(monthly change)

New Housing Price Index — B.C.

September 2017

0.7% increase

(monthly change)

Higher new home prices in British Columbia were responsible for most of the national gain in September, while results in the rest of Canada were mixed.

Chart 1  Chart 1: New Housing Price Index
New Housing Price Index

New Housing Price Index, monthly change

New house prices in Canada rose 0.2% in September, largely reflecting increases in the census metropolitan areas (CMAs) of Kelowna (+0.9%) and Vancouver (+0.7%). Builders tied the rise to improved market conditions.

Prices for new homes in most Southern Ontario CMAs were unchanged in September. The exceptions were Oshawa (+0.9%), St. Catharines–Niagara (+0.6%) and London (+0.2%). Toronto and Guelph each reported a fourth consecutive month of no price change.

In Alberta and Saskatchewan, new house prices declined in all four surveyed CMAs, with Regina (-0.3%) recording the largest decrease.

Chart 2  Chart 2: Higher new home prices in British Columbia were responsible for most of the national gain in September, while results in the rest of Canada were mixed
Higher new home prices in British Columbia were responsible for most of the national gain in September, while results in the rest of Canada were mixed

New Housing Price Index, 12-month change

In September, new house prices in Canada rose 3.8% year over year for a third consecutive month.

Vancouver recorded a 12-month price increase of 8.3%, the largest gain for this metropolitan area since July 2007.

London posted an 8.1% year-over-year increase, matching the gain in August, while Toronto was up 6.4%.

Among the four CMAs reporting price declines, St. John's (-1.1%) recorded the largest year-over-year decrease.


  Note to readers

The New Housing Price Index measures changes over time in the selling prices of new residential houses agreed upon between the contractor and the buyer at the time of the signing of the contract. It is designed to measure the changes in the selling prices of new houses where detailed specifications pertaining to each house remain the same between two consecutive periods.

The survey covers the following dwelling types: single dwellings, semi-detached houses and townhouses or row homes. The current value of the structure is independently indexed and is presented as the house series. The survey also collects contractors' estimates of the current value (evaluated at market price) of the land. These estimates are independently indexed to provide the published series for land. The index is available at the Canada and provincial levels, and for 27 metropolitan areas.

The prices collected from builders and included in the index are market selling prices less value-added taxes, such as the federal Goods and Services Tax or the provincial harmonized sales tax.

The index is not subject to revision and is not seasonally adjusted.

A Historical Timeline of Canadian Producer Price Statistics

To celebrate Canada 150, "A Historical Timeline of Canadian Producer Price Statistics," part of Statistics Canada — Infographics (Catalogue number11-627-M), was created to showcase the key milestones in the history of Canadian producer price statistics. This historical timeline contains answers to questions such as: Who collected Canada's first statistics? What do Canadian producer price indexes measure?

Infographic: Producer Price Indexes at a Glance

The infographic "Producer Price Indexes at a Glance," part of Statistics Canada — Infographics (Catalogue number11-627-M), demonstrates how producer price indexes for goods and services are calculated and why they are important for the Canadian economy.

Next release

The New Housing Price Index for October will be released on December 14.

Contact information

For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; STATCAN.infostats-infostats.STATCAN@canada.ca) or Media Relations (613-951-4636; STATCAN.mediahotline-ligneinfomedias.STATCAN@canada.ca).

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