Issue 16-94: New Housing Price Index

May 12, 2016

British Columbia saw the New Housing Price Index (NHPI) rise 0.3% in March, the tenth consecutive month with an increase. The NHPI was 3.8% higher than in March 2015. The land component of the index was unchanged compared to both February 2016 and March 2015; the increase in the NHPI was due to climbing prices for the house component.

Vancouver’s NHPI was up 0.4% over February, and 4.2% compared to March 2015. In Victoria, the NHPI was unchanged from February 2016, and up a modest 0.2% year-over-year.

Nationally, the NHPI rose 0.2% in March, the twelfth consecutive monthly increase. Higher new housing prices in British Columbia and Ontario have been the primary contributors.

Source: Statistics Canada