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January 05, 2022NEW HOUSING PRICE INDEX, NOVEMBER 2021 Month-over-month (Nov 2021 vs Oct 2021)
In Nova Scotia, the price of new housing remained unchanged from the previous month. Nationally, prices were up 0.8%. In November, new home prices increased in 16 of the 27 CMAs, remained unchanged in 9 and declined in 2.
The largest month-over-month increase was in Newfoundland and Labrador (+1.2%) while prices remained the same in the four provinces.
Builders in Kelowna and some parts of Vancouver were not required to report data for November due to the impacts of flooding in British Columbia. However, Statistics Canada noted that the immediate impact to the New Housing Price Indexes' response rates for November in these regions was minimal.
Year-over-year (Nov 2021 vs Nov 2020)
Nova Scotia’s new housing prices increased 7.0% from the previous year in November. Nationally, prices were up 11.7%. All provinces posted gains led by Manitoba (+18.9%).
Year-to-date (Jan-Nov 2021 vs Jan-Nov 2020)
Nova Scotia’s new housing prices were up 9.8%, below the national average of 10.2% during the first eleven months of 2021. Quebec (+14.5%) saw the fastest growth while Newfoundland and Labrador (+4.3%) reported the smallest increase from the same period last year.
Census Metropolitan Areas
Year-over-Year (Nov 2021 vs Nov 2020)
New house price growth among Census Metropolitan Areas was fastest in Kitchener-Cambridge-Waterloo (+29.0%). The slowest growth was in Trois-Rivieres (+1.8%) and Sherbrooke (+1.9%). Nova Scotia's CMA, Halifax, reported a 7.0% increase.
Year-to-date (Jan-Nov 2021 vs Jan-Nov 2020)
In Halifax, new housing prices increased 9.8% in the first eleven months of 2021 when compared to same period last year. New house price growth among Census Metropolitan Areas was fastest in Kitchener-Cambridge-Waterloo (+23.9%) and Ottawa (+22.6%). The slowest growth was in Sherbrooke (+0.8%) and Regina (+3.7%).
Source: Statistics Canada. Table 18-10-0205-01 New housing price index, monthly
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