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New Housing Price Index

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October 2010  (Previous release)

The New Housing Price Index (NHPI) rose 0.1% in October following a 0.2% advance in September.

The top contributors to the NHPI monthly increase in October were Toronto and Oshawa, as well as Vancouver.

Evolution of the New Housing Price Index

Between September and October, prices increased the most in Saskatoon (+0.8%) followed by Greater Sudbury and Thunder Bay (+0.5%).

In Saskatoon, prices rose mostly as a result of higher labour costs.

In Sudbury and Thunder Bay, the increase was due in part to builders moving to new areas with higher land development fees.

In October, prices remained unchanged in 9 of 21 census metropolitan areas.

Prices decreased in Calgary (-0.6%), London (-0.3%), Victoria (-0.2%) and Regina (-0.1%).

In Calgary, a few builders offered discounts in order to spur sales in October, while in London, some builders recorded lower negotiated selling prices.

Year-over-year, the NHPI was up 2.5% in October following a 2.7% increase in September.

The main contributors to the year-over-year increase of the NHPI in October were Toronto and Oshawa, Montréal and Vancouver.

Regina posts the highest year-over-year price increase

Year-over-year, Regina recorded a 6.0% advance and has been posting the largest 12-month increase since May 2010.

Compared with October 2009, contractors' selling prices were also higher in Winnipeg (+5.2%), St. John's (+4.9%) and Montréal (+4.3%).

Among the 21 census metropolitan areas surveyed, 4 registered 12-month declines in October: Charlottetown (-1.6%) followed by Greater Sudbury and Thunder Bay (-1.2%), Victoria (-0.8%) and Windsor (-0.7%).

Note: The New Housing Price Index (NHPI) measures changes over time in the selling prices of new residential houses agreed upon between the contractor and the buyer at the time of the signing of the contract. It is designed to measure the changes in the selling prices of new houses where detailed specifications pertaining to each house remain the same between two consecutive periods. The prices collected from builders and included in the index are market selling prices less value added taxes, such as the Federal Goods and Services Tax (GST) or the Harmonized Sales Tax (HST).

The HST came into effect July 1, 2010, in Ontario and British Columbia. Prior to the introduction of the HST, the provincial sales tax on building materials in Ontario and in British Columbia was embedded in the contractor's selling prices of new houses. With the introduction of the HST in these two provinces, the provincial sales tax is now replaced by the HST, a value added tax which is conceptually excluded from the index.

This release presents data that are not seasonally adjusted and the indexes published are final.

Available on CANSIM: table 327-0005.

Definitions, data sources and methods: survey number 2310.

The third quarter 2010 issue of Capital Expenditure Price Statistics (62-007-X, free) will be available in January 2011.

The new housing price indexes for November will be released on January 12.

For more information, or to enquire about the concepts, methods or data quality of this release, contact Client Services (613-951-4550; toll-free 1-888-951-4550; fax: 613-951-3117; ppd-info-dpp@statcan.gc.ca), Producer Prices Division.

Table 1

New housing price indexes
  2010 October 2009 September 2010 October 2010 September to October 2010 October 2009 to October 2010
  relative importance1 (1997=100) % change
Canada total 100.00 154.8 158.5 158.6 0.1 2.5
House only ... 163.2 168.6 168.7 0.1 3.4
Land only ... 137.6 138.1 138.1 0.0 0.4
St. John's 1.20 183.1 192.1 192.1 0.0 4.9
Charlottetown 0.31 120.4 118.5 118.5 0.0 -1.6
Halifax 1.22 150.7 151.8 151.8 0.0 0.7
Saint John, Fredericton and Moncton2 0.88 121.0 123.4 123.4 0.0 2.0
Québec 2.46 168.9 171.9 172.4 0.3 2.1
Montréal 10.11 166.2 173.1 173.3 0.1 4.3
Ottawa–Gatineau 4.71 171.4 177.5 177.7 0.1 3.7
Toronto and Oshawa2 33.99 146.2 150.1 150.4 0.2 2.9
Hamilton 2.96 151.3 154.0 154.0 0.0 1.8
St. Catharines–Niagara 0.96 155.2 157.3 157.4 0.1 1.4
London 1.91 144.4 147.7 147.3 -0.3 2.0
Kitchener–Cambridge–Waterloo 2.17 143.1 145.3 145.3 0.0 1.5
Windsor 0.65 103.3 102.6 102.6 0.0 -0.7
Greater Sudbury and Thunder Bay2 0.85 112.7 110.8 111.3 0.5 -1.2
Winnipeg 1.62 183.3 192.9 192.9 0.0 5.2
Regina 0.59 252.9 268.3 268.1 -0.1 6.0
Saskatoon 0.81 213.4 219.8 221.6 0.8 3.8
Calgary 7.88 232.7 236.7 235.3 -0.6 1.1
Edmonton 8.29 206.8 208.8 208.8 0.0 1.0
Vancouver 14.39 116.9 119.0 119.1 0.1 1.9
Victoria 2.04 106.3 105.7 105.5 -0.2 -0.8
not applicable
The relative importance is calculated using a price adjusted three-year average of the value of building completions for each metropolitan area.
In order to ensure data confidentiality, the following census metropolitan areas and census agglomeration are grouped together as follows: Saint John, Fredericton and Moncton; Toronto and Oshawa; and Greater Sudbury and Thunder Bay.
Note(s):
View the census subdivisions that comprise the metropolitan areas online. Data may not add to totals as a result of rounding.