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New home prices weaken in Canada
* R8 x2 b/ ^: M$ `; o$ y) h+ U/ DCanwest News Service. ^+ Z8 R; }( ?7 ^
Published: 7:48 am
& P9 s1 @" [; M% nOTTAWA - Prices for new homes in Canada rose by 5.2 per cent in April from a year earlier, the slowest pace in more than two and a half years as a weakening Alberta market continued to pull down the national average, Statistics Canada said Wednesday.
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, z* M# W: T: X OApril's rate was down from a 6.1 per cent year-on-year increase in March, the federal agency said. On a monthly basis, prices were unchanged in April from March., T& x0 d& F# M1 N8 M
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"This was the third consecutive month in which the increase has decelerated, and the slowest rate of growth since September 2005, when year-over-year prices rose by 4.9 per cent," it said.
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In contrast to strong markets in Saskatchewan and parts of Atlantic Canada, home prices in oil-rich Alberta showed more signs of cooling.
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/ `& r+ }7 R( T4 i* ]"Edmonton and Calgary continued to experience slow market conditions," Statistics Canada said. "Competition among builders has resulted in lower prices being offered to prospective homebuyers."
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6 d* G6 J$ x+ w+ hPrices in Calgary edged up 2.5 per cent in April from a year earlier, compared to a 5.3 per cent year-over-year increase in March.0 f# k7 O) t- _0 x
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In Edmonton, the year-on-year rate slowed to 8.1 per cent - the ninth straight month of decelerated growth.
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Meanwhile, the Saskatchewan housing market continued to heat up in April. Prices in Saskatoon led the country for the 12th straight month, jumping 43.7 per cent from a year earlier - but down slightly from a 46.2 per cent year-on-year gain in March.
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6 x) a: z* c& o2 h8 HPrices in Regina were up 34 per cent in April from the same time in 2007, compared to a 27.8 per year-on-year increase in March.7 L' v+ y/ @9 a8 d' X7 a* T
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In Newfoundland and Labrador "a strengthening economy, coupled with increased material and labour costs, has contributed to record increases," Statistics Canada said.4 K9 I* j- K2 j4 \
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Prices in St. John's rose 16.3 per cent in April, up from the year-over-year increase of 12 per cent in March.
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Nova Scotia also saw strong gains, with prices in Halifax increasing 11.3 per cent from a year earlier, although that was down slightly from a record year-on-year gain 12.8 per cent in March.: X% X& W9 c) ]8 S$ i
% u( K& W1 i, B, e5 A4 D" o"The report adds to the growing body of evidence that indicates that the Canadian housing sector may be coming off the boil," said Millan Mulraine, economics strategist at TD Securities.
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r7 U' L/ n! t0 ]! {* B2 q! P7 q"Similar behaviour has also been observed in the price of existing homes. However, it is important to note that the Canadian housing sector remains in reasonable shape and a U.S.-style correction in home prices remains highly unlikely."; @5 s, S5 k4 l9 k8 a
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1 ^+ t7 a9 Y* X" u! \( h© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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