Issue 16-193: Price of New Housing

October 13, 2016

Year-over-year, contractors' selling prices for new homes (house and land) in British Columbia climbed 5.2% in August. The increase was entirely due to a jump in the average price for a new house, which saw a 7.6% boost from levels recorded in August of last year. Land prices, on the other hand, were unchanged. The total price for a new home in Vancouver in August was 5.4% higher than it was in the same month of 2015, while the price for new homes in Victoria climbed by 3.8%.

Nationally, the cost of new housing increased 2.7% over the 12-month period ending in August.

Data Source: Statistics Canada