Tag Archives: metropolitan regions
* Prices rise 0.4% from January
* Royal LePage shows prices up 4.3% on year
Randall Palmer and Ka Yan Ng – Reuters
New home prices in Canada advanced 0.4% in February from January, Statistics Canada said on Tuesday.
The gain exceeded market expectations of a 0.3% climb following January’s 0.2% rise. Prices were up in 11 metropolitan regions, down in four and flat in six.
Year on year, prices were 2.1% higher, up from 1.9% in January.
Statistics Canada has reported monthly increases from August 2010 through February, though a revision of its series of data now has October 2010 as having no change.
Separately, real estate broker Royal LePage said low interest rates and a recovering economy continued to fuel the Canadian residential housing sector over the past year.
In the first quarter, the average price of a detached bungalow was up 4.3% at $341,355 from a year earlier, the survey of more than 250 neighborhoods across the country showed.
Over the same period, standard two-storey homes rose 3.5% to $379,388 while standard condominiums rose 4$ to $237,919.
“Canada’s real estate market has maintained momentum coming out of 2010, indicating that the post-recession recovery is continuing,” said Phil Soper, chief executive of Royal LePage Real Estate Services.
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