New-housing price index up 0.2 per cent in February, Statistics Canada says

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OTTAWA – Statistics Canada says its new-housing price index was up 0.2 per cent in February, following a 0.3 per cent increase in January.

The agency says Calgary was the top contributor to the gain as prices up 0.9 per cent over the previous month. Higher material and labour costs, market conditions and a new-home warranty program in Alberta were the main reasons for the increase.

New housing prices were up in almost all the Ontario cities surveyed, except in the combined region of Greater Sudbury and Thunder Bay, where prices were unchanged for the sixth consecutive month.

St. Catharines–Niagara in Ontario saw prices rise 1.3 per cent, the largest monthly price increase in February and the biggest increase in the region since November 2009.

Prices in Halifax and Charlottetown slipped 0.1 per cent and 0.4 per cent, respectively. Prices were unchanged in seven of the 21 metropolitan areas surveyed.

On a year-over-year basis, the index rose 1.5 per cent in February, following an identical increase in January.

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