Canadian Personal Finance Blog

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May 10th, 2007

New House Price only up 9% in March

Whoo Hoo?!? Well in a year over year rate it’s lower than the 10% rate in February, but holy cow new housing prices continue to go up, that is for sure.

Now where is it most expense, see for yourself:

housing price indexes
March 2007 March 2006 to March 2007 February 2007 to March 2007
(1997=100) % change
Canada total 149.3 9.3 0.3
House only 159.2 9.0 0.4
Land only 130.2 10.2 0.5
St. John’s 132.8 4.0 0.4
Halifax 131.4 1.3 0.0
Charlottetown 117.7 2.0 -0.1
Saint John, Fredericton and Moncton 113.1 0.5 0.1
Québec 146.7 3.8 0.1
Montréal 152.6 4.9 0.1
Ottawa–Gatineau 161.3 2.9 0.2
Toronto and Oshawa 139.4 2.7 0.1
Hamilton 147.3 5.7 0.5
St. Catharines–Niagara 149.7 5.6 1.6
Kitchener 137.2 0.6 -0.8
London 135.4 3.1 0.0
Windsor 104.0 -1.9 0.7
Greater Sudbury and Thunder Bay 104.2 3.1 0.2
Winnipeg 151.6 6.8 0.6
Regina 174.1 16.1 2.4
Saskatoon 164.6 22.7 10.5
Calgary 240.2 30.8 0.5
Edmonton 214.1 39.8 0.0
Vancouver 117.4 6.8 1.1
Victoria 117.9 0.1 0.4

In Ottawa the new housing prices only went up by 2.9% which is cool, and somewhere near the inflation rate (or closer to it), than say in Calgary or Edmonton! Holy cow!

Wonder how “used” house prices are comparing?

More on this topic (What's this?)
The Shill Owns Up (Financial Armageddon, 12/20/08)
Paul Krugman 12/23/08 vs Paul Krugman 12/24/08 (winterspeak, 12/24/08)
"Prices Were Surprisingly Low" (Financial Armageddon, 5/14/07)
Deflation Watch (Jim Kingsdale's Energy Investmen..., 12/30/08)
Read more on U.S. Housing Market, Investing in Canada at Wikinvest

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Posted in House Prices, Stats Canada |

This entry was posted on Thursday, May 10th, 2007 at 11:12 am and is filed under House Prices, Stats Canada. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “New House Price only up 9% in March”

  1. NFtoBC Says:
    May 10th, 2007 at 5:30 pm

    So, If I make some interpretations, Inflation at 3% should increase the index to about 134. Markets with less than this increase have not been good value if purchased in 1997, and values over have not been as good an investment?

    Land increased at about the rate of inflation.

    Housing in Windsor, Sudbury /Thunder Bay, New Brunswick, Vancouver, PEI, and Victoria appreciated at less than an inflationary rate, Halifax, St. John’s, London, Kitchener and Toronto fared a little better, while the others fared better than would be expected if housing followed simple inflationary pressures.

    Out of the 21 areas surveyed, only about a third appear to have risen enough in value to be considered an investment quality purchase!

    David

  2. Big Cajun Man Says:
    May 11th, 2007 at 4:14 am

    Excellent analysis! -c8j

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