Issue 17-08: Price of New Housing

January 12, 2017

Relative to the same month of 2015, the cost of new housing in B.C.’s two largest cities continued to climb in November of 2016. Home builders in Vancouver received 4.4% more for their projects, and Victoria’s housing price index was up 5.1%. Both metropolitan areas saw relatively stable land values (+0.8% in Vancouver and +0.6% in Victoria), but the main boost came from increases in new housing prices (+6.0% and +7.1%, respectively).

Nationally, the new housing price index was up 3.0% during the twelve-month period ending in November.

Data Source: Statistics Canada