New Housing Price Index Released By Statistics Canada

Statistics Canada announced that its new housing price index rose 0.4 percent in July, compared with June.

According to the agency, the prices have increased at the national level for 16 successive months.

The new housing price index comprises measurement of the changes in the selling prices of new homes.

Both the region of Toronto and Oshawa, Ontario were the biggest drivers of the total increase in July as it climbed 1.0 percent.  Statistics Canada buttressed that builders had reported market conditions and new list prices as the cause for the increase.

Victoria gained 0.8 per cent, Hamilton 0.7 per cent and Vancouver 0.6 per cent.

The index went up 2.8 percent in July, compared with a year ago. The collective region of Toronto and Oshawa was the driving force with a 7.0 percent increase over the 12-month period.


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