Calgary posts largest growth in new home prices
7.0% hike from last year
New home prices in the Calgary region continue to rise.
CALGARY - The Calgary region experienced the highest annual growth rate in new home prices across the country in January, says Statistics Canada.
The federal agency said Thursday that the New Housing Price Index rose by seven per cent from January 2013 in the Calgary census metropolitan area - its highest annual rise since July 2007.
The NHPI was also up 1.3 per cent on a monthly basis.
Nationally, the NHPI rose 0.3 per cent in January - the largest since May 2012 and mainly the result of strong gains in the Prairie region, said Statistics Canada. On an annual basis, it was up 1.5 per cent.
“The metropolitan region of Calgary was the top contributor to the January rise, with prices up 1.3 per cent over December. Builders reported that higher material and labour costs as well as market conditions were the primary reasons for the increase, the largest in the region since April 2007,” it said.
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The federal agency said Thursday that the New Housing Price Index rose by seven per cent from January 2013 in the Calgary census metropolitan area - its highest annual rise since July 2007.
The NHPI was also up 1.3 per cent on a monthly basis.
Nationally, the NHPI rose 0.3 per cent in January - the largest since May 2012 and mainly the result of strong gains in the Prairie region, said Statistics Canada. On an annual basis, it was up 1.5 per cent.
“The metropolitan region of Calgary was the top contributor to the January rise, with prices up 1.3 per cent over December. Builders reported that higher material and labour costs as well as market conditions were the primary reasons for the increase, the largest in the region since April 2007,” it said.
mtoneguzzi@calgaryherald.com
Twitter.com/MTone123
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