New Housing Price Index, Canada: December 2017

Nationally, prices for new houses in Canada were unchanged in December, while showing limited growth in some markets, according to Statistics Canada February 8.

In December, new house prices in Canada were unchanged for the first time since April 2015. Buyers in 15 of the 27 census metropolitan areas surveyed saw no price change.

Increases in 8 surveyed CMAs across the country were offset by declines in the remaining 4.

Canada New Housing Price Index: December 2017

Since the middle of 2017, there have been few price changes among the census metropolitan areas in the Greater Golden Horseshoe, according to Statistics Canada February 8. The Fair Housing Plan introduced in April 2017 as well as mortgage rate increases are among the factors that may help explain the limited new home price movement in the region.

New home prices were up +3.3 per cent year over year in December, following a similar gain in November. Vancouver (+8.9%) and London (+7.3%) had the largest 12-month increases among the surveyed CMAs.