New home prices edge higher

OTTAWA – Statistics Canada says its new housing price index rose 0.1 per cent in August, following a 0.2 per cent increase in July.

The agency says Calgary was the top contributor to the national increase in August, with prices rising 0.6 per cent because of market conditions, increased material and labour costs and a shortage of developed land.

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It says the largest monthly price advance in August came in Windsor, Ont., where prices rose 1.0 per cent due to increases in material, labour and land development costs.

New housing prices rose 0.3 per cent in both Montreal and Saskatoon.

Negotiated selling prices contributed to lower prices in Vancouver, Halifax, Ottawa–Gatineau and Victoria.

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