Issue 16-42: Price of New Housing

March 10, 2016

The cost of new housing in B.C.’s biggest metropolitan area continued to climb in January. Vancouver's New Housing Price Index was 3.1% higher than in January 2015, reflecting more expensive housing (+4.9%). In Victoria, the index was flat (+0.0%), with slight deflationary pressure coming from housing (-0.3%) prices. Meanwhile, land values in both cities were unchanged. Of the 21 Canadian metropolitan areas surveyed, Toronto and Oshawa (+4.4%) posted the biggest year-over-year increase, more than double the national average (+1.8%).

Data Source: Statistics Canada