According to the new housing price index (NHPI) released Thursday by Statistics Canada,Regina scored the largest declines in new home prices among 21 Canadian cities in November, .
“Among the 21 metropolitan areas surveyed, six posted year-over-year price declines in November: Regina (1.6 per cent), Saskatoon (1.4 per cent), Québec (0.9 per cent), Calgary (0.8 per cent), Victoria (0.5 per cent) and Ottawa–Gatineau (0.5 per cent),” the federal agency said
However, Regina still boasts the largest increase in new home prices at 157 per cent of the 2007 base-year price for the NHPI. That means new home prices have increased in Regina 57 per cent in the past eight years, compared with the national average of 14 per cent.
The NHPI measures changes over time in the selling prices of new residential houses where the specifications of each housing type remain the same between two consecutive periods. The survey covers single-detached dwellings, semi-detached houses and townhouses or row homes, minus land costs and value-added taxes.