Housing prices in 2011
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In 2011, Canada's New Housing Price Index (NHPI) was 105.5, up from 103.2 in 2010. The NHPI measures changes in contractors' selling prices of new houses, so 105.5 means that the price of new homes rose 5.5% since 2007, the base year of the index.
From 2007 to 2011, new home prices in Regina increased by 47.3%, the largest increase among all census metropolitan areas (CMAs). St. John's had the second largest increase at 46.9%, helping the Atlantic region reach the highest regional growth in Canada. The NHPI increased by 9.9% in Ontario and 14.6% in Quebec.
The NHPI decreased by 2.5% in British Columbia, partly fuelled by a fall of 11.9% in Victoria, the largest decline among all CMAs. Prices in the Prairie region fell by 3.6%: despite rising prices in Regina and Winnipeg (24.1%), prices declined in Calgary (4.5%) and Edmonton (10.1%).
On an annual basis, the NHPI increased by 2.2% from 2010 to 2011, with the largest increases in the CMAs of Regina (5.1%), Winnipeg (4.8%) and Toronto and Oshawa (4.6%). The largest decreases were posted in Victoria (1.6%), Windsor (3.1%) and St. Catharines–Niagara (0.5%).
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