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March 08, 2018NEW HOUSING PRICE INDEX, JANUARY 2018 In January, the price of new housing in Nova Scotia remained level at 101.0. Canada's new housing price index remained level at 103.3. In Canada, new housing prices have been on a general upward trend since 2009. Only New Brunswick, Quebec and Ontario posted price index gains on a monthly basis.
Nova Scotia new housing prices were 0.8 per cent higher than they were in January 2017. National housing prices were 3.2 per cent above their levels a year ago.
Across Canada, British Columbia (+7.9 per cent) and Ontario (+4.3 per cent) saw the largest increases in new housing prices from January 2017 to January 2018. Saskatchewan and Newfoundland and Labrador saw declines in new housing prices.
Since November 2016, year-over-year growth in the Nova Scotia new housing price index has been over 1.0 per cent, though they remain well below the national average. Year-over-year growth for Nova Scotia has dipped below 1.0 per cent this month, for the first time since October 2016.
Census Metropolitan Areas
Among Census Metropolitan Areas tracked by the new housing price index, annual prices are growing faster around the Greater Toronto Area as well as in St. Catharines-Niagara, the Kitchener area, London, and Vancouver. New housing prices have declined in St. John's, Saskatoon, and Edmonton.
Statistics Canada Note: With the release of the January 2017 NHPI data, a number of important changes have been introduced to increase the relevance of the index series. The index base period, for which the NHPI equals 100, is now December 2016. The NHPI basket has been updated with new weights for the 2017 series, its coverage has been expanded to include new CMAs and new indexes have been published for the Toronto, Ottawa and Greater Sudbury areas. Data for periods prior to January 2017 have been obtained by linking the new NHPI series, where possible, with indexes in CANSIM table 327-0046.
Source Statistics Canada, CANSIM table 327-0056
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