Stats Can: New Home Price Index Grows Slightly

National News

Stats Can: New Home Price Index Grows Slightly

Thursday, 10 March 2011 11:08
Hits: 267
    E-mail Print
  • PDF

According to the most recent New Home Price Index released by Statistics Canada, new home prices reached record heights in January, but the pace of growth has slowed substantially- suggesting that perhaps the market is beginning to cool.

Led by growth in Oshawa, Toronto and Montreal, modestly outperforming analysts’ predictions, the index grew by 0.2% in January, building on growth of 0.1% in December.


Check out this article
When you are standing in a crowd of many, you are faced with a choice - either blend in and hope for the best, or stand out- and step up. In the real estate and mortgage professions, where the marketplace is filled with so many faces, messages and communications, one way to cut through the competing noise and define the thoroughfare for your message is to build a recognisable brand for yourself.  ...

Moving from December to January, prices increased most significantly in Winnipeg : 0.7%, Quebec: 0.5% and Toronto and Oshawa, and Montreal– all increasing by 0.4%


These increases attributed to builders introducing new list prices (Winnipeg), improving general market conditions (Toronto and Oshawa), and higher material costs (Montreal and Quebec).
Decreases were “seen in the Saint John, Fredericton and Moncton metropolitan regions aggregation, as well as in Hamilton (both down 0.2%) and Edmonton (-0.1%).”

Year over year, the New Home Price Index rose up 1.9% in January on the heels of a 2.1% increase in December.

The latest index seems to underscore analyst sentiment, that states that the surging short term price gains of years past have been brought to more sustainable levels- as rising interest rates, and increases to lending restrictions begin to have material impact on the market, bringing a sense of balance between growth in price, and growth in the market itself.

How does that break down to local markets activity? Speaking exclusively to, Toronto Realtor Steven Fudge, Sales Rep, Bosley R.E. Ltd., Brokerage (, feels that, recently, there may be decrease in numbers overall, but that business remains steady; "Investors expanding their portfolios with 'long-term hold' properties remain active in the downtown Toronto market, while speculators who were flipping condos have retracted. We're seeing fewer buyers but those buyers still have deep pockets"



Daniella Aitken

Daniella Aitken

Sales Representative
CENTURY 21 Miller Real Estate Ltd., Brokerage*
Contact Me

Blog Archives