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New Housing Price Index, June 2018

Released: 2018-08-09

New Housing Price Index — Canada

June 2018

0.1% increase

(monthly change)

New Housing Price Index — N.L.

June 2018

-0.2% decrease

(monthly change)

New Housing Price Index — P.E.I.

June 2018

-0.1% decrease

(monthly change)

New Housing Price Index — N.S.

June 2018

0.0%

(monthly change)

New Housing Price Index — N.B.

June 2018

0.0%

(monthly change)

New Housing Price Index — Que.

June 2018

0.7% increase

(monthly change)

New Housing Price Index — Ont.

June 2018

0.1% increase

(monthly change)

New Housing Price Index — Man.

June 2018

0.2% increase

(monthly change)

New Housing Price Index — Sask.

June 2018

-0.2% decrease

(monthly change)

New Housing Price Index — Alta.

June 2018

0.2% increase

(monthly change)

New Housing Price Index — B.C.

June 2018

0.1% increase

(monthly change)

New home prices increased in June, marking the first upward movement since November 2017.

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

New Housing Price Index, monthly change

Nationally, new house prices edged up 0.1% in June, largely due to rising construction costs across the country. The cost of softwood lumber, which is widely used in residential construction, has been on the rise. According to the Industrial Product Price Index, the price of softwood lumber (except tongue and groove and other edge worked lumber) rose 34.3% year over year in June.

Among the 11 surveyed census metropolitan areas (CMAs) reporting growth in June, the largest increases were in Montréal (+1.0%) and Ottawa (+0.7%). Builders in both markets linked the gains to rising construction and land development costs. Other notable rises occurred in St. Catharines–Niagara (+0.5%) and Greater Sudbury (+0.4%).

In the west, prices for new homes were up in Calgary (+0.3%), Edmonton (+0.2%) and Vancouver (+0.2%). The increase in Vancouver follows five months of flat prices.

Six CMAs reported declines in June, with Oshawa (-0.3%) registering the largest decrease.

New home prices were unchanged in Toronto in June. Prices in this market have been flat or declining since November 2017.

Chart 2  Chart 2: New home prices increased in June, marking the first upward movement since November 2017
New home prices increased in June, marking the first upward movement since November 2017

New Housing Price Index, 12-month change

New house prices rose 0.8% year over year in June. The largest 12-month gains were in Ottawa (+5.0%) and London (+4.8%).

Among the four CMAs reporting declines, Toronto (-1.3%) and Regina (-1.2%) recorded the largest 12-month decreases.

New article: Recent trends in new house prices in the Greater Golden Horseshoe region

An article highlighting recent trends in new house prices in six census metropolitan areas within the Greater Golden Horseshoe region is now available in the publication Prices Analytical Series (Catalogue number62F0014M).


  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 the Prices Analytical Series (Catalogue number62F0014M), 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 July will be released on September 13.

Products

The article "Recent trends in new house prices in the Greater Golden Horseshoe region" is now available as part of the publication Prices Analytical Series (Catalogue number62F0014M).

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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