Issue 16-135: Price of New Housing

July 14, 2016

The cost of new housing in B.C.’s two biggest metropolitan areas continued to climb in May. New house prices in Victoria were 2.4% higher than in May 2015, reflecting the effect of rising house values (+3.3%). Meanwhile, Vancouver’s New Housing Price Index was up 5.1%, with inflationary pressure also coming from more expensive housing (+7.9%). Land values in both cities were unchanged from May of last year.

Toronto/Oshawa (+4.9%) posted the biggest year-over-year increase in the country, more than double the national average (+2.1%).

Data Source: Statistics Canada