New Housing Price Index, July 2017
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Released: 2017-09-14
July 2017
0.4% 
(monthly change)
July 2017
0.0%
(monthly change)
July 2017
0.6%
(monthly change)
July 2017
0.4%
(monthly change)
July 2017
0.4%
(monthly change)
July 2017
0.2%
(monthly change)
July 2017
0.2%
(monthly change)
July 2017
0.1%
(monthly change)
July 2017
0.0%
(monthly change)
July 2017
0.5%
(monthly change)
July 2017
1.7%
(monthly change)
Market conditions in Vancouver contributed to ongoing strength in that census metropolitan area (CMA), and helped drive new home prices up 0.4% nationally in July.
Chart 1
New Housing Price Index
New Housing Price Index, monthly change
New house prices in Vancouver continued their upward trend, rising 2.0% from June to July. Prices have grown 7.7% in the CMA since the start of the year due to strong demand for housing. First-time home buyers have been eligible for a loan of up to 5% (to a maximum of $37,500) of a home's purchase price under the B.C. Home Partnership program introduced in January.
Toronto reported no change in new home prices for the second consecutive month. With the exception of Hamilton (+1.5%) and London (+0.9%), prices remained muted in the rest of Southern Ontario as well.
Overall, prices were up in 12 metropolitan areas and were unchanged in the other 15.
Chart 2
New home prices in Vancouver lead the national growth in July, while prices in most areas of Southern Ontario remain stable
In celebration of the country's 150th birthday, Statistics Canada is presenting snapshots from our rich statistical history.
Since its inclusion in the New Housing Price Index in 1981, St. John's, Newfoundland and Labrador has experienced several periods of high growth in new house prices.
From January 2007 to December 2010, the price of a new house rose just over 51%. Demand for housing increased, as investment in large-scale infrastructure projects in oil, gas and mining created new jobs and drew workers to the province.
New home prices in St. John's grew most rapidly (+25.8%) from November 2007 to November 2008. Monthly growth exceeded 2.5% in 6 of these 12 months.
New Housing Price Index, 12-month change
New house prices in Canada rose 3.8% over the 12-month period ending in July. Vancouver experienced the largest year-over-year price increase (+7.8%) among surveyed CMAs, followed closely by Toronto and London (both +7.4%).
Reflecting continued weakness in the housing market, CMAs in Alberta and Saskatchewan recorded three of the four year-over-year declines.
Chart 3
New Housing Price Index for St. John's, 2005 to 2012
Chart 4
St. John's month-over-month percent change, November 2007 to November 2008
Note to readers
The New Housing Price Index 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 survey covers the following dwelling types: single dwellings, semi-detached houses and townhouses or row homes. The current value of the structure is independently indexed and is presented as the house series. The survey also collects contractors' estimates of the current value (evaluated at market price) of the land. These estimates are independently indexed to provide the published series for land. The index is available at the Canada and provincial levels, and for 27 metropolitan areas.
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 or the provincial harmonized sales tax.
The index is not subject to revision and is not seasonally adjusted.
A Historical Timeline of Canadian Producer Price Statistics
To celebrate Canada 150, "A Historical Timeline of Canadian Producer Price Statistics," part of Statistics Canada — Infographics (11-627-M), was created to showcase the key milestones in the history of Canadian producer price statistics. This historical timeline contains answers to questions such as: Who collected Canada's first statistics? What do Canadian producer price indexes measure?
Infographic: Producer Price Indexes at a Glance
The infographic "Producer Price Indexes at a Glance," part of Statistics Canada — Infographics (11-627-M), demonstrates how producer price indexes for goods and services are calculated and why they are important for the Canadian economy.
Next release
The New Housing Price Index for August will be released on October 12.
Contact information
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; STATCAN.infostats-infostats.STATCAN@canada.ca) or Media Relations (613-951-4636; STATCAN.mediahotline-ligneinfomedias.STATCAN@canada.ca).
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