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New Housing Price Index, June 2019

Released: 2019-08-08

New Housing Price Index — Canada

June 2019

-0.1% decrease

(monthly change)

New Housing Price Index — N.L.

June 2019

-0.5% decrease

(monthly change)

New Housing Price Index — P.E.I.

June 2019

0.0%

(monthly change)

New Housing Price Index — N.S.

June 2019

0.0%

(monthly change)

New Housing Price Index — N.B.

June 2019

0.0%

(monthly change)

New Housing Price Index — Que.

June 2019

0.3% increase

(monthly change)

New Housing Price Index — Ont.

June 2019

0.1% increase

(monthly change)

New Housing Price Index — Man.

June 2019

-0.2% decrease

(monthly change)

New Housing Price Index — Sask.

June 2019

0.0%

(monthly change)

New Housing Price Index — Alta.

June 2019

-0.6% decrease

(monthly change)

New Housing Price Index — B.C.

June 2019

-0.1% decrease

(monthly change)

New housing prices were down 0.1% at the national level for the second consecutive month in June. Prices have been flat or falling since last August.

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

New Housing Price Index, monthly change

Calgary (-1.0%) reported the largest price decrease in June, with builders tying the decrease to deteriorating market conditions.

The prices of new homes were up in Gatineau (+1.0%) and Ottawa (+0.6%) in June, with the rise primarily attributable to higher construction costs in both census metropolitan areas (CMAs). Weather-related disasters in a context of a skilled labour shortage may have contributed to this increase.

New home prices in Hamilton were up 0.7% in June, the largest monthly increase in this CMA since July 2017. The increase occurred against the backdrop of favourable market conditions and more affordable housing prices in Hamilton relative to Toronto.

Chart 2  Chart 2: New housing prices are down at the national level for the second consecutive month
New housing prices are down at the national level for the second consecutive month

New Housing Price Index, 12-month change

New house prices at the national level were down 0.2% year over year in June, the first decrease since January.

In June, 11 CMAs reported year-over-year declines, led by Regina (-2.6%) and Calgary (-2.4%). This was the largest year-over-year decline in Calgary since December 2009.

Ottawa (+4.7%) posted the largest gain among the 14 CMAs reporting year-over-year increases in June, with improving market conditions and higher construction costs contributing to the rise.


  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: singles, semi-detached 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 census 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.

Products

A video entitled "Producer Price Indexes" is available on the Statistics Canada Training Institute webpage. It provides an introduction to Statistics Canada's Producer Price Indexes—what they are, how they are made and what they are used for.

Statistics Canada has a new Housing Market Indicators Dashboard. This web application provides access to key housing market indicators for Canada, by province and by census metropolitan area. These indicators are automatically updated with new information from monthly releases, giving users access to the latest data.

A data table highlighting changes in new home prices in Canada and select census metropolitan areas is available as part of the Just the Facts series.

Next release

The New Housing Price Index for July will be released on September 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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