Issue 17-93: Price of New Housing

August 11, 2017

In June, the price of new houses in British Columbia rose 1.3% from May. This was a consequence of increased prices in Vancouver, as prices in Kelowna and Victoria recorded no change month-over-month. Statistics Canada has reported that builders "cited improving market conditions as the main reason for the increase."

Nationally, the index rose 0.2% from May, with increases in prices in Southern Ontario slowing from recent rates.

Year-over-year, the national index was up 3.9%, lead by an 8.5% increase in Toronto. In Vancouver prices were up 6.2% from June 2016, while in Victoria the increase was 3.9%.

New Housing Price Index, Canada & B.C.

Source: Statistics Canada, New Housing Price Index