Issue 17-125 Price of New Housing

October 16, 2017

In August, the cost of new housing in B.C. rose 6.9% compared to the same month a year earlier. Prices in Vancouver jumped 7.8% and there was a 3.0% increase in new housing prices in Victoria.

The increase in B.C. was the highest of any of the provinces, slightly above the 6.1% growth in prices in Ontario, and well above the national average of 3.8%. However, Vancouver’s new housing inflation was only the second highest among surveyed census metropolitan areas, as prices in London, Ontario climbed 8.1%.

Source: Statistics Canada, New Housing Price Index