August 14, 2014 9:50 am

New home prices jump in June amid ultra low borrowing rates

New home construction may be slowing this year, but prices jumped in June.

CANADIAN PRESS/Nathan Denette

OTTAWA – Statistics Canada says its new housing price index rose 0.2 per cent in June.

The agency says the increase was largely the result of higher new home prices in Ontario.

READ MORE: Avg home prices to march higher through 2015, CMHC says 

The combined metropolitan region of Toronto and Oshawa was the leading contributor to June’s growth, with prices up 0.3 per cent from May.

The agency says that builders indicated that market conditions and new list prices were the main reasons for the increase in that area.

The Hamilton area west of Toronto, where prices rose 0.6 per cent, recorded the largest monthly price advance among the municipalities covered by the survey.

Prices were unchanged in six of the 21 metropolitan areas surveyed.

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