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New home prices weaken in Canada
0 c. E# f! ~0 x% SCanwest News Service$ f! w/ _2 U, W) E/ S, u
Published: 7:48 am$ K, |; O- v# O* `- ^1 f, V3 K" N
OTTAWA - 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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April'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.5 i; u- E) t; C4 ]8 p: g
1 c0 [& z% @! Z: I1 l"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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, i+ a3 i# k6 T4 \+ ]1 kIn contrast to strong markets in Saskatchewan and parts of Atlantic Canada, home prices in oil-rich Alberta showed more signs of cooling. % s0 f/ l: d) \, n" R- j
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"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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2 h3 j: f9 r# \+ b% jPrices 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.
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In Edmonton, the year-on-year rate slowed to 8.1 per cent - the ninth straight month of decelerated growth. ( O. n2 {- s5 r; x7 q" G# {
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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./ S/ p/ B+ W/ J; _4 L
) r7 ~6 K4 H8 `+ b9 [- B4 J" ]# S8 v: lPrices 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.& {9 s5 Z9 z7 X0 h
. [' F( W/ f. w+ @2 s+ I, UIn Newfoundland and Labrador "a strengthening economy, coupled with increased material and labour costs, has contributed to record increases," Statistics Canada said.9 u6 ?# ~4 t* `
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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.; q# h9 g5 E, q [: ]' J
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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.
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"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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; B& m6 g+ z( w" m0 q: \/ l"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."1 [# h/ M9 n; l& l* F2 T
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© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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