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New home prices weaken in Canada, J7 e& J) @) Q2 f
Canwest News Service# J# _" F8 y6 ]# l, M5 K2 u, h8 c2 K
Published: 7:48 am
$ U- }1 @: _9 v9 H; L; v# u8 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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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 K+ Q3 G k: r# b% {3 j
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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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4 P( c* G+ A5 U$ q; bIn contrast to strong markets in Saskatchewan and parts of Atlantic Canada, home prices in oil-rich Alberta showed more signs of cooling. * |4 x% E% } t; I2 o% Z4 M
2 h2 t$ l- p. G" V. L"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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0 ~. M; I- _8 U' g2 RPrices 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. 3 o- g9 W1 c; g' l& v- {% q$ q7 H
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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.% N. ?* {9 b3 q9 ?& c2 j' z
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Prices 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.
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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." I0 w" B* G9 X9 \
5 t+ @9 K {5 rPrices in St. John's rose 16.3 per cent in April, up from the year-over-year increase of 12 per cent in March.1 z( s" D0 F4 m7 ^# j; s* v
( h, a, f! Z+ v$ F( x, `4 Q+ _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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* \* n' u- x4 p( a! y"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.- e' k7 z7 o, U% i" N, t: X2 c. }
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"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."/ \3 }! R/ h7 M) |0 w$ j
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© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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