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New home prices weaken in Canada/ }9 c7 w4 X4 \4 [4 S* Y* G- `4 x
Canwest News Service
! ^0 ?# D& x5 X* vPublished: 7:48 am
; W( P+ o# \5 A Y! X+ cOTTAWA - 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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f6 @% Q- U. P6 h& w* K4 @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.
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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.' Z N" u7 P g+ ^4 Y
. D) V7 ?* x, q2 o P$ {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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"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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C- ~; k' r# }; }: G3 kPrices 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., R; r, Z* P: X8 c+ Z
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In Edmonton, the year-on-year rate slowed to 8.1 per cent - the ninth straight month of decelerated growth. $ Z# s8 \4 [: | L! I" {7 X x0 a: g
5 M. {9 B( y J! _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./ Q! Y s" W/ { y/ c3 h
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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.
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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.
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8 u& J' j" H3 C2 e* a4 M"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.+ {) j9 K& s/ U
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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."
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( z5 `" s5 J r; N% U" T' r© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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