MNI: 5 Things We Learned From Canadian New Housing Price Data>

By Yali N'Diaye

     OTTAWA (MNI) - The following are the key points from the December 

data on the Canadian New Housing Price Index released Thursday by 

Statistics Canada: 

     - Canada new house prices were unchanged in December for the first 

time since April 2015, leading to a further slowdown in the 12-month 

growth rate to 3.3%, the lowest since January 2017. 

     - House only prices were also flat on the month and up 3.2% 

year-over-yeat after rising 3.3% in November. 

     - Land only prices edged up 0.1% on the month and increased 3.7% 

year-over-year, following a 3.6% gain in November. 

     - Regionally, the data showed a divergence between accelerating 

Vancouver and slowing Toronto. Prices in Toronto were flat, keeping the 

12-month growth rate at 4.7%. Prices in Vancouver rose 0.2% on the month 

and 8.9% on the year, the largest 12-month gain since July 2007. 

     - The average annual price gain in 2017 was 3.7%, following a 2.5% 

increase in 2016. The Bank of Canada is monitoring whether prices in 

Toronto will imitate the pattern in Vancouver and eventually accelerate 

after the slowdown that has been happening since provincial measures 

were introduced in the Fall of 2017. 

--MNI Ottawa Bureau; email: yali.ndiaye@marketnews.com 

[TOPICS: M$C$$$,MACDS$]