Issue 19-63 Price of New Housing

April 11, 2019

The cost of new housing in the province’s capital city was higher in February than in the same month last year. The 1.2% increase in Victoria was the result of climbing housing prices (+1.5%) and land value (+0.6%). Meanwhile, Vancouver's New Housing Price Index slipped 0.6%, and Kelowna’s inched down 0.2%.

New housing prices advanced in 16 of Canada’s 27 metropolitan areas. With a 4.9% increase over February of 2018, Ottawa led the way, followed by London (+3.4%) and Windsor (+3.3%). Conversely, the largest declines were seen in Regina (-2.8%), Oshawa (-1.1%) and Toronto (-1.0%), such that nationally, the cost of new housing was relatively unchanged (+0.1%) during the twelve-month period ending in February.

Data Source: Statistics Canada