Canadian Housing Prices Rose 0.2% in November
Canadian Housing Prices Rose 0.2% in November New housing prices in Canada rose 0.2 percent in November from October, driven by strength in the large areas of Toronto and Vancouver, Statistics Canada said Thursday.
The increase matched analysts' expectations in a Reuters poll. Compared to November 2014, prices rose 1.6 percent, the biggest increase year on year since the 1.7 percent recorded in December 2014.
The Toronto and Oshawa which represents 28.8 percent of the total Canadian market, posted a gain of 0.2 percent while Vancouver saw a jump of 0.5 percent. Manufacturers in both markets cited market conditions as the main reason for the growth.
Prices rose 0.1 percent in Calgary, the capital of the energy industry in Canada, where the housing market has been hit hard by the crisis in the oil.
prices rose in 11 of 21 metropolitan areas, were unchanged in three and fell in September
the new index of house prices exclude apartments and condominiums, as government says are a cause of particular concern, which represent a third of new housing.
via Reuters
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