The Daily, Tuesday, July 12, 2005. New Housing Price Index

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New Housing Price Index

The New Housing Price Index rose 0.5% in May, down slightly from April's increase of 0.6%. On a 12-month basis, the rate of change for this index of contractors' selling prices was the lowest, at 4.6%, since June 2003.

The New Housing Price Index (1997=100) rose to 128.3 in May.

Prices advanced in 17 of the 21 metropolitan areas surveyed. Vancouver, Greater Sudbury/Grand Sudbury and Thunder Bay, and St. John's all led the way with a monthly increase of 1.3%. These were followed by Regina (+1.2%), Victoria (+1.1%), Hamilton and London (+1.0%). For the most part, these increases were the result of higher costs for labour, building materials and land. In Vancouver, prices were also being driven by a strong market for new housing.

Significant gains were observed in Charlottetown and St. Catharines–Niagara (+0.8%), Windsor (+0.7%), Québec, Ottawa–Gatineau, Kitchener and Calgary (+0.5%), mostly the result of increased material, labour and land costs. Of the 17 metropolitan areas showing increases, land prices rose in 10.

Monthly increases were also noted in Toronto and Oshawa, Winnipeg and Edmonton.

Three metropolitan areas registered no monthly change and the only decrease was in Saint John, Fredericton and Moncton due to competitive factors (-0.4%).

New housing price indexes

(1997=100)

May 2005

May 2004 to May 2005

April to May 2005

% change

Canada total

128.3

4.6

0.5

House only

136.8

4.7

0.5

Land only

112.0

4.2

0.4

St. John's

125.3

6.8

1.3

Halifax

121.8

0.0

Charlottetown

113.7

4.2

0.8

Saint John, Fredericton and Moncton

108.5

4.2

-0.4

Québec

133.8

3.4

0.5

Montréal

141.1

5.1

0.0

Ottawa–Gatineau

153.1

4.4

0.5

Toronto and Oshawa

131.4

4.0

0.4

Hamilton

134.9

6.5

1.0

St. Catharines–Niagara

137.3

9.6

0.8

Kitchener

130.5

5.2

0.5

London

127.1

5.9

1.0

Windsor

105.7

3.5

0.7

Greater Sudbury/Grand Sudbury and Thunder Bay

100.1

1.7

1.3

Winnipeg

128.7

8.0

0.2

Regina

142.6

7.1

1.2

Saskatoon

126.2

7.6

0.0

Calgary

143.4

4.2

0.5

Edmonton

134.6

4.9

0.3

Vancouver

105.9

5.0

1.3

Victoria

111.0

6.3

1.1

Note:

View the census subdivisions that comprise the metropolitan areas online.

Available on CANSIM: table 327-0005.

Definitions, data sources and methods: survey number 2310.

The first quarter 2005 issue of Capital Expenditure Price Statistics (62-007-XPB, $26/$85) will soon be available.

For more information, or to enquire about the concepts, methods or data quality of this release, contact our Client Services Section (613-951-9606, fax: 613-951-1539; infounit@statcan.gc.ca) or Randy Sterns (613-951-8183; sterran@statcan.gc.ca), Prices Division.