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New home prices weaken in Canada$ B/ x7 r9 V8 {' y4 R
Canwest News Service* C$ [, m& O* |3 i
Published: 7:48 am
: q% D9 P+ ^* Y. Q2 s; eOTTAWA - 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.5 a9 ?2 S: n1 q6 Z4 O
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April'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.: e+ n* p. a* H: e Z
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"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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% W; `2 Q6 ]9 nIn contrast to strong markets in Saskatchewan and parts of Atlantic Canada, home prices in oil-rich Alberta showed more signs of cooling. 9 \" N" I6 k& I' Q4 B7 Q
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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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4 m) o$ l/ H7 d) p9 a+ N7 \4 C8 lPrices 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., X. s) M) e8 h) a4 }4 C( n- v! M* {
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In Edmonton, the year-on-year rate slowed to 8.1 per cent - the ninth straight month of decelerated growth. - k2 J1 s; d: T/ V; e
3 i7 P/ _( ~5 f+ u* ZMeanwhile, 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.
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/ N: O. o5 O r3 i2 vPrices 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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In Newfoundland and Labrador "a strengthening economy, coupled with increased material and labour costs, has contributed to record increases," Statistics Canada said.6 }9 Z; e- }& J; j
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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.0 }; H: m/ R( ~) ?7 H7 R+ X
2 |+ Z" w2 z+ j- f% {6 BNova 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: ?! l; A& g7 _9 {6 R$ K" j
* ]6 A2 b) n8 K$ ` ]"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.+ o2 E5 u, X( s5 ?0 L
: M6 u( p, R2 \! l" g5 Y U"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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5 B0 u2 ~! Y! I© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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