Canadian Housing Prices Increase 0.1%

The New Housing Price Index (NHPI) edged up 0.1% in September, following a 0.3% increase in August.

The census metropolitan area (CMA) of Vancouver (+0.4%) and the combined region of Toronto and Oshawa (+0.2%) were the top contributors to the national increase. Builders in both areas reported market conditions as the main reason for the advance. This was the eighth straight monthly price increase in Toronto and Oshawa, and the largest gain in Vancouver since April.

Prices rose 0.2% in the CMA of Ottawa–Gatineau, following four months of no change. Builders reported higher material and labour costs as the main reasons for the increase, the first in the CMA since August 2014.

New housing prices also rose 0.2% in the CMAs of Montréal, Kitchener–Cambridge–Waterloo, London and Regina. Builders in Montréal and Kitchener–Cambridge–Waterloo attributed the rise to market conditions, while builders in London and Regina reported higher land costs.

via StatsCan

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza