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New Housing Price Index (September 2010)

New Housing Price Index (September 2010)

The New Housing Price Index (NHPI) increased 0.2% in September following a 0.1% increase in August.

Montréal (+1.6%) and Calgary (+0.3%) were the largest contributors to the NHPI's upward movement between August and September.

The monthly increases in these two metropolitan areas were due in part to builders moving to new areas with higher land development fees.

In September, prices remained unchanged in 8 of 21 metropolitian areas.

Prices declined by 0.4% in both Vancouver and Victoria and edged down 0.1% in Hamilton.

In Vancouver and Hamilton, a number of builders reported lower negotiated selling prices in September, while in Victoria, some builders offered discounts to spur sales.

Year over year, the NHPI was up 2.7% in September following a 2.9% increase in August.

The main contributors to the year-over-year increase of the NHPI in September were Toronto and Oshawa, Montréal and Vancouver.

The largest year-over-year increase was recorded in Regina (+6.1%), followed by Winnipeg (+5.2%) and St. John's (+4.9%).

Compared with September 2009, contractors' selling prices were also higher in Montréal (+4.5%), Ottawa–Gatineau (+3.6%) and Saskatoon (+3.3%).

Of the 21 metropolitan areas surveyed, 4 registered 12-month declines in September: Charlottetown (-2.2%) followed by Greater Sudbury and Thunder Bay (-1.2%), Victoria (-0.6%) and Windsor (-0.5%).

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Québec Landlords Association (1)

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