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New home prices weaken in Canada
' y2 O+ n; h/ M$ [7 ECanwest News Service% a+ |# M# ~( e8 l# k0 O
Published: 7:48 am
9 d4 J& f( G YOTTAWA - 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. v4 p. N0 M7 {3 ~
: X( p4 d" \: b/ m* G# B. m7 RApril'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.+ L* ^7 X, q7 b
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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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8 L9 U2 x& x9 \. n8 x, K2 EIn contrast to strong markets in Saskatchewan and parts of Atlantic Canada, home prices in oil-rich Alberta showed more signs of cooling. 9 v( ]2 ^# O9 }; J
$ c7 z6 u* V' X* l9 s"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."7 _' X7 A1 H( z
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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.3 a8 s2 Y! z5 o5 }, P% n
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In Edmonton, the year-on-year rate slowed to 8.1 per cent - the ninth straight month of decelerated growth. $ L% N! W5 E4 z+ j2 w
* o4 Y9 J1 \" Z* i* L" Y5 R2 |8 OMeanwhile, 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.% \' M" `. b- B# f5 b
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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.) e/ X: ~- h4 @0 l9 o9 I
f6 a: P6 S$ a1 X# H# WIn Newfoundland and Labrador "a strengthening economy, coupled with increased material and labour costs, has contributed to record increases," Statistics Canada said.9 `; h0 s0 B2 d9 v" m1 R
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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.9 {0 x- N% S& W, h' h0 V) ^
+ }* w, w W' 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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$ _; e6 `! k0 d7 v3 [2 D d"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."& u+ L' l5 {1 k0 n! i
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© Canwest News Service 2008 |
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发表于 2008-6-11 07:40
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