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New home prices weaken in Canada
' V" N2 D9 b3 W1 s' u& ^$ hCanwest News Service6 r, G& B) b& a& w
Published: 7:48 am
* G$ H5 [# j$ G9 |, ZOTTAWA - 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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1 i2 Q) j) f3 } N) m4 ^) T# EApril'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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"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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/ d1 F; `! r. ~4 S: h" {In contrast to strong markets in Saskatchewan and parts of Atlantic Canada, home prices in oil-rich Alberta showed more signs of cooling. ) A% B6 J7 O3 F- n
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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."7 w5 U! S6 T4 H L) K; V
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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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In Edmonton, the year-on-year rate slowed to 8.1 per cent - the ninth straight month of decelerated growth. 0 }" y; Y0 z( ]) I a; Z
$ {: x% L, A. ]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.
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4 ]9 k$ f: Z. r) iPrices 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.* B9 Q7 U3 a) k# S. L. c+ d1 h
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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.* m. R: X U9 c
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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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) q5 |# Z. }4 p: ~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.
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: W6 ~* {+ C( z"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.: T: m$ ]5 U2 S& r. p% P% Z
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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."
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© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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