Issue 16-112: Price of New Housing

June 9, 2016

The cost of new housing in the province’s two largest cities was higher in April than in the same month last year. The 1.3% increase in Victoria was the result of a climb in housing prices (+1.9%), as land value (+0.0%) remained flat. Vancouver's New Housing Price Index jumped 3.9%, also reflecting higher housing costs (+6.3%) and relatively unchanged land values (+0.0%).

New housing prices advanced in 15 of Canada’s 21 metropolitan areas. With a 4.9% increase over April of 2015, Toronto/Oshawa led the way, followed by Vancouver. Nationally, the cost of new housing advanced 2.1% during the twelve-month period ending in April.

Data Source: Statistics Canada