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New home prices weaken in Canada
- i3 B6 |: _' M& lCanwest News Service
1 h& t8 H8 K3 ?9 i0 vPublished: 7:48 am# d" U; j* N! ~8 G5 H/ }% w% G+ z
OTTAWA - Prices for new homes in Canada rose by 5.2 per cent in April from a year earlier, the slowest pace in more than two and a half years as a weakening Alberta market continued to pull down the national average, Statistics Canada said Wednesday." q U# L0 ?" r7 K ]1 E+ d
4 T6 [. j7 L' k: b* T# [8 bApril's rate was down from a 6.1 per cent year-on-year increase in March, the federal agency said. On a monthly basis, prices were unchanged in April from March.
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. U7 Q( F0 h1 F( l"This was the third consecutive month in which the increase has decelerated, and the slowest rate of growth since September 2005, when year-over-year prices rose by 4.9 per cent," it said.
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3 j' [6 z# v. [$ @In contrast to strong markets in Saskatchewan and parts of Atlantic Canada, home prices in oil-rich Alberta showed more signs of cooling.
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"Edmonton and Calgary continued to experience slow market conditions," Statistics Canada said. "Competition among builders has resulted in lower prices being offered to prospective homebuyers."
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Prices in Calgary edged up 2.5 per cent in April from a year earlier, compared to a 5.3 per cent year-over-year increase in March.
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% t) z! J3 s1 z! Y0 vIn Edmonton, the year-on-year rate slowed to 8.1 per cent - the ninth straight month of decelerated growth.
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Meanwhile, the Saskatchewan housing market continued to heat up in April. Prices in Saskatoon led the country for the 12th straight month, jumping 43.7 per cent from a year earlier - but down slightly from a 46.2 per cent year-on-year gain in March.8 d+ T c; k" D
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Prices in Regina were up 34 per cent in April from the same time in 2007, compared to a 27.8 per year-on-year increase in March.
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; K* W! f" V) @In Newfoundland and Labrador "a strengthening economy, coupled with increased material and labour costs, has contributed to record increases," Statistics Canada said.
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Prices in St. John's rose 16.3 per cent in April, up from the year-over-year increase of 12 per cent in March.+ Y3 z+ X* h/ W# i0 l3 o: ~; ]
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Nova Scotia also saw strong gains, with prices in Halifax increasing 11.3 per cent from a year earlier, although that was down slightly from a record year-on-year gain 12.8 per cent in March.! U/ k9 B; u. Z
6 N& t- o; Q1 I3 M"The report adds to the growing body of evidence that indicates that the Canadian housing sector may be coming off the boil," said Millan Mulraine, economics strategist at TD Securities.
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% ]+ j- c& H* C7 P5 j, H"Similar behaviour has also been observed in the price of existing homes. However, it is important to note that the Canadian housing sector remains in reasonable shape and a U.S.-style correction in home prices remains highly unlikely."
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© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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