Issue 16-22: Price of New Housing

February 11, 2016

Price of New Housing

Relative to the same month of 2014, the cost of new housing in B.C.’s largest city climbed in December. Home builders in Vancouver received 2.6% more for their projects, while Victoria’s housing price index was somewhat lower (-0.5%). Stability in new housing prices (+0.0%) in the capital city was overshadowed by a 0.9% decline in land value. The opposite was true in Vancouver, where the upturn was caused by an increase in the cost of houses (+4.1%), as the price of land was also unchanged (+0.0%).

Nationally, the new housing price index rose 1.6% during the twelve-month period ending in December.

Data Source: Statistics Canada