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New home prices weaken in Canada
6 P2 F0 o. |0 `" U. x$ qCanwest News Service
; _$ p E; B8 d; H Z, c! p# L# sPublished: 7:48 am
( D$ S8 ]) _* a2 GOTTAWA - 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.
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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.
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4 `- `7 p/ f" _# q"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.9 y& J/ o( R5 [" C4 J) ~" _
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In contrast to strong markets in Saskatchewan and parts of Atlantic Canada, home prices in oil-rich Alberta showed more signs of cooling. ' T0 M. @8 X3 m( G3 {$ B
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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."3 j) [" J, [# f5 m3 F1 m) {
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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.% m1 y1 t% ?$ @
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In Edmonton, the year-on-year rate slowed to 8.1 per cent - the ninth straight month of decelerated growth. `3 h; J5 N& Q
* Z* M$ h! E* ]0 xMeanwhile, 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.5 J: O% b9 }3 L1 {; k# m1 v
& m' I. \1 B! A: X: H; K9 UPrices 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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# I0 m5 k8 z+ }% a2 j; C6 NIn Newfoundland and Labrador "a strengthening economy, coupled with increased material and labour costs, has contributed to record increases," Statistics Canada said. [" o C- v% R, D% e
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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.
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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.2 m1 ^* p/ B Q' W/ \% _
5 J: k5 i/ y3 D- u* Q- j: ^"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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"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."1 X+ I- F& B' ]6 V/ R# Y$ f
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© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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