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New home prices weaken in Canada
# W6 P- r$ t6 a x/ F4 lCanwest News Service
2 I0 Y5 ?: C2 E ~! p( zPublished: 7:48 am2 f) h, x' E, I/ `
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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+ G* A# I7 Y4 L- q$ N* Y. C( v9 CApril'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.: ]' H9 o* S- U! `# s5 T& v' Z# T5 o
% z- f' Z. l9 g' M v"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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& h" G% R) K6 U% ?* B. u7 |In contrast to strong markets in Saskatchewan and parts of Atlantic Canada, home prices in oil-rich Alberta showed more signs of cooling. # l B- V0 M7 m7 t# e8 w/ o$ C9 F4 t
3 ~/ ?* j* @& v2 h"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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Prices 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 r+ @; a0 B/ F" \
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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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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.6 x" l9 P0 |* [; ?4 x4 q2 `
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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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( [; `- T9 c7 {9 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.8 z- M# S1 B2 k# k3 J( A7 b
0 p: Y4 |% w5 [ a- _1 qNova 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.1 R/ i# S) V0 H- C$ U
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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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"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."( {% Q. {" r( Z1 F8 E/ v4 }" {
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. S1 b/ V- i9 W: | b+ B' ]8 ~, K© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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