{"id":5171,"date":"2017-03-13T10:10:39","date_gmt":"2017-03-13T17:10:39","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=5171"},"modified":"2017-03-10T10:05:59","modified_gmt":"2017-03-10T18:05:59","slug":"new-house-prices-edge-up-0-1-month-on-month-in-canada","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2017\/03\/new-house-prices-edge-up-0-1-month-on-month-in-canada\/","title":{"rendered":"New House Prices Edge Up 0.1% Month on Month in Canada"},"content":{"rendered":"<p style=\"text-align: justify;\">New house prices edged up 0.1% in January with new homes in Ontario largely responsible for the rise, according to the latest index.<\/p>\n<p style=\"text-align: justify;\">Among the 27 metropolitan areas covered by the index from Statistics Canada, new housing prices were up in 14, down in seven and unchanged in six.<\/p>\n<p style=\"text-align: justify;\">Kitchener\u2013Cambridge\u2013Waterloo recorded the biggest month on month price gain of 1% and builders in the region cited a shortage of developed land as the reason for the rise, the largest since June 2012.<\/p>\n<p style=\"text-align: justify;\">Other significant price increases were observed in St. Catharines\u2013Niagara with a rise of 0.9% and London also up 0.9%. In St. Catharines\u2013Niagara builders reported higher construction costs and improving market conditions as reasons for the rise. Builders in London tied the gains to higher construction costs.<\/p>\n<p style=\"text-align: justify;\">Toronto was the top contributor to the national increase, recording a 0.2% gain in January. Higher land prices were somewhat offset by lower negotiated selling prices and bonus packages offered by builders to generate sales.<\/p>\n<p style=\"text-align: justify;\">The largest monthly price decreases were recorded in Greater Sudbury with a fall of 0.8% and St. John\u2019s down 0.4%. In both regions, the primary reason for the declines was lower negotiated selling prices.<\/p>\n<p style=\"text-align: justify;\">Overall prices are up 3.1% year on year with Toronto the top contributor to the gain and also recorded the largest year on year price increase of 8% among the metropolitan areas surveyed.<\/p>\n<p style=\"text-align: justify;\">Other notable year on year gains were recorded in St. Catharines\u2013Niagara with a rise of 6.5%, Windsor up 5.7%, Victoria up 5.5% and Kitchener\u2013Cambridge\u2013Waterloo up 5.2%.<\/p>\n<p style=\"text-align: justify;\">In January, five metropolitan areas recorded year on year price declines, with Saskatoon down 1.2% and Regina down 1%, posting the largest decreases.<\/p>\n<p><a href=\"http:\/\/www.propertywire.com\/news\/north-america\/new-house-prices-edge-1-month-month-canada\/\" target=\"_blank\">New House Prices Edge Up 0.1% Month on Month in Canada<\/a> by Property Wire<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New house prices edged up 0.1% in January with new homes in Ontario largely responsible for the rise, according to the latest index. Among the 27 metropolitan areas covered by &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2017\/03\/new-house-prices-edge-up-0-1-month-on-month-in-canada\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-5171","post","type-post","status-publish","format-standard","hentry","category-market-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New House Prices Edge Up 0.1% Month on Month in Canada &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2017\/03\/new-house-prices-edge-up-0-1-month-on-month-in-canada\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"New House Prices Edge Up 0.1% Month on Month in Canada &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"New house prices edged up 0.1% in January with new homes in Ontario largely responsible for the rise, according to the latest index. 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