The Daily
|
 In the news  Indicators  Releases by subject
 Special interest  Release schedule  Information

New Housing Price Index, November 2017

Warning View the most recent version.

Archived Content

Information identified as archived is provided for reference, research or recordkeeping purposes. It is not subject to the Government of Canada Web Standards and has not been altered or updated since it was archived. Please "contact us" to request a format other than those available.

Released: 2018-01-11

New Housing Price Index — Canada

November 2017

0.1% increase

(monthly change)

New Housing Price Index — N.L.

November 2017

0.1% increase

(monthly change)

New Housing Price Index — P.E.I.

November 2017

0.0%

(monthly change)

New Housing Price Index — N.S.

November 2017

0.0%

(monthly change)

New Housing Price Index — N.B.

November 2017

0.3% increase

(monthly change)

New Housing Price Index — Que.

November 2017

0.1% increase

(monthly change)

New Housing Price Index — Ont.

November 2017

0.1% increase

(monthly change)

New Housing Price Index — Man.

November 2017

0.2% increase

(monthly change)

New Housing Price Index — Sask.

November 2017

-0.4% decrease

(monthly change)

New Housing Price Index — Alta.

November 2017

0.1% increase

(monthly change)

New Housing Price Index — B.C.

November 2017

0.0%

(monthly change)

Canadians saw little overall change in new home prices in November.

Chart 1  Chart 1: New Housing Price Index
New Housing Price Index

New Housing Price Index, monthly change

Nationally, new home prices edged up 0.1% in November, the same increase as in October. Overall, prices were up in 12 surveyed census metropolitan areas (CMAs), down in 3 and unchanged in the other 12.

New home buyers in Ottawa saw the largest monthly price increase (+0.5%), following a 1.0% rise in October. Builders tied the November gain to improved market conditions.

With the exception of Guelph (+0.1%), prices for new homes were unchanged for the surveyed CMAs in the Greater Golden Horseshoe. Toronto home builders reported no price change in five of the previous six months.

New home prices were unchanged in all three surveyed CMAs in British Columbia, but overall, prices in the province were up 7.6% compared with November 2016.

House prices declined in both Regina (-0.4%) and Saskatoon (-0.5%), reflecting weak market conditions.

Chart 2  Chart 2: Canadians saw little overall change in new home prices in November
Canadians saw little overall change in new home prices in November

New Housing Price Index, 12-month change

New home prices were up 3.4% year over year in November. Vancouver (+8.7%) and London (+7.1%) had the largest 12-month increases among the surveyed CMAs.

Prices for new homes in Toronto were up 4.7% year over year, down from the peak 12-month change of 9.9% for 2017 in April.

Among the three CMAs reporting price declines, Saskatoon (-1.3%) registered the largest year-over-year decrease.


  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

"A Historical Timeline of Canadian Producer Price Statistics," which is part of Statistics Canada — Infographics (Catalogue number11-627-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," which is part of Statistics Canada — Infographics (Catalogue number11-627-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 December 2017 will be released on February 8, 2018.

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).

Date modified: