In more than six years prices for new apartments have increased at a lower pace, last June in Canada, following the slowdown begun in September of 2006. These figures have been provided by Statistics Canada.
This slowdown phenomenon is attributed to a softening of the habitation market in the Canadian West.
One notices that at the national level resale prices of entrepreneurs have grown by 3,5 % between June of 2007 and June of 2008, compared to an increase from one year to the other of 4,1 % registered in May.
The steepest price increases for new houses have been noticed in the Census Metropolitan Area (CMA) of Regina. Prices from entrepreneurs in this region have increased by 28,5 % compared to June of 2007. Among the factors that have provoked this explosion in prices are: a shortage of manpower and an important increase in the cost of building materials.
The rise in the cost of building materials also pushes the price of new apartments upward, from one year to the other by 5,4 % in Quebec City, and 5,6 % in Montreal.