Housing Price Increase Drop
That is a confusing way of saying that the increase in new house prices is slowing down. September 2006 to September ’07 new housing prices increase by 6.2% (down from 6.5% August to August).
Housing prices increased the most where? Can you guess? Starts with a “P”? Yes, the Prairies, where housing prices continue to increase at a startling rate. The praries in general was about 15% however in Alberta the story was:
The Edmonton market remained strong with a 26.6% increase. New housing prices rose 5.9% in Calgary in September, the only Prairie city with a year-over-year increase below 10%. This occurred despite higher development costs, as new lots were released into the market.
How do people buy new houses these day?
| New Housing Price Indexes | |||||
|---|---|---|---|---|---|
| September 2007 | September 2006 to September 2007 | August to September 2007 | |||
| (1997=100) | % change | ||||
| Canada total | 155.5 | 6.2 | 0.3 | ||
| House only | 165.6 | 5.8 | 0.3 | ||
| Land only | 135.9 | 7.3 | 0.2 | ||
| St. John’s | 138.9 | 5.7 | 0.8 | ||
| Halifax | 140.2 | 7.3 | 0.3 | ||
| Charlottetown | 118.1 | 0.6 | 0.3 | ||
| Saint John, Fredericton and Moncton | 114.5 | 0.8 | 0.1 | ||
| Québec | 148.0 | 3.9 | 0.0 | ||
| Montréal | 155.7 | 4.6 | 0.3 | ||
| Ottawa–Gatineau | 162.3 | 1.1 | 0.2 | ||
| Toronto and Oshawa | 142.1 | 2.7 | 0.3 | ||
| Hamilton | 148.9 | 3.3 | 0.3 | ||
| St. Catharines–Niagara | 151.7 | 4.2 | 0.0 | ||
| Kitchener | 139.7 | 1.9 | 0.0 | ||
| London | 139.3 | 2.8 | 0.7 | ||
| Windsor | 102.6 | -3.2 | -0.4 | ||
| Greater Sudbury and Thunder Bay | 107.3 | 5.1 | 0.9 | ||
| Winnipeg | 170.3 | 16.2 | 0.8 | ||
| Regina | 202.5 | 29.6 | 0.3 | ||
| Saskatoon | 212.5 | 47.0 | 0.2 | ||
| Calgary | 250.7 | 5.9 | 0.7 | ||
| Edmonton | 248.4 | 26.6 | 0.0 | ||
| Vancouver | 122.4 | 6.1 | 0.0 | ||
| Victoria | 118.4 | 0.2 | -0.3 | ||
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