Canada new housing prices in Canada increased 0.2 percent month-over-month in December 2019, following a 0.1 percent drop in the previous month while markets had expected no change. It was the largest monthly rise in housing prices for a December month since 2009. Prices for new houses increased the most in Ottawa (0.6 percent), with builders reporting market conditions and construction costs as the primary reasons for the gain. Higher demand for housing, as well as low inventory levels, continued to push prices up in the region. In contrast, prices were down in Greater Sudbury (-0.3 percent) and Gatineau (-0.2 percent), mainly due to lower negotiated selling prices. Year-on-year, new home prices went up 0.1 percent, the first annual increase since April 2019, after decreasing 0.1 percent in November.

Housing Index in Canada averaged 67.81 points from 1981 until 2019, reaching an all time high of 103.40 points in December of 2019 and a record low of 37.70 points in May of 1983. This page provides - Canada New Housing Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Statistics Canada

Housing Index in Canada is expected to be 103.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Housing Index in Canada to stand at 105.00 in 12 months time. In the long-term, the Canada New Housing Price Index is projected to trend around 106.00 points in 2020, according to our econometric models.

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Canada New Housing Price Index

Actual Previous Highest Lowest Dates Unit Frequency
103.40 103.20 103.40 37.70 1981 - 2019 points Monthly
2016=100, NSA

Calendar GMT Actual Previous Consensus TEForecast
2019-12-20 01:30 PM New Housing Price Index YoY Oct 0.0% -0.1% 0.1%
2019-12-20 01:30 PM New Housing Price Index MoM Oct 0.1% 0.2% 0.1% 0.2%
2020-01-22 01:30 PM New Housing Price Index YoY Dec 0.1% -0.1% 0.1%
2020-01-22 01:30 PM New Housing Price Index MoM Dec 0.2% -0.1% 0% 0%


News Stream
2019-12-20
Canada New Housing Prices Fall in November
New housing prices in Canada were down 0.1 percent month-over-month in November 2019, following a 0.1 percent gain in October, with the largest declines being recorded in Regina (-1.7 percent) and Edmonton (-1.0 percent). Builders in both census metropolitan areas offered cash rebates as incentives to buyers and also reported lower negotiated selling prices. Meanwhile, new house prices rose the most in Montréal (1.1 percent), the eighth consecutive monthly increase. New house prices were also down 0.1 percent on a year-over-year basis in November. Prices have been flat or declining since May 2019.

2019-11-14
Canada New House Prices Rise the Most in 2 Years
Canada new home prices increased 0.2 percent in September 2019, the largest rise in two years, following a 0.1 percent gain in the previous month and above market consensus of a 0.1 percent increase. Prices in Kitchener—Cambridge—Waterloo advanced for the second consecutive month (1.5 percent), as favourable market conditions and more affordable prices relative to Toronto continued to influence demand in the region. Higher cost of new houses were also seen in both Ottawa (1 percent) and Trois-Rivières (1 percent), as builders cited construction costs as the primary reason for the increase in Trois-Rivières and favourable market conditions for the rise in Ottawa. On the other hand, prices dropped in Vancouver (-0.6 percent) and Kelowna (-0.3 percent). Year-on-year, new home prices declined 0.1 percent, after a 0.3 percent fall in the prior month.

2019-10-10
Canada New House Prices Unexpectedly Rise
Canada new home prices rose 0.1 percent in August of 2019, following three consecutive months of declines while markets had forecast prices to remain unchanged. The largest increases of new home prices were in Sherbrooke (2.1 percent), Montréal (1.1 percent) and Trois-Rivières (0.5 percent), due to higher construction costs. Meanwhile, the price of new homes declined in Oshawa and St. Catharines–Niagara (both down 0.4 percent) because of unfavourable market conditions. Year-on-year, new home prices dropped 0.3 percent in August, following a 0.4 percent decrease in the previous month.

2019-09-12
Canada New Home Prices Fall for 3rd Straight Month
Canada's new home prices dropped 0.1 percent for the third consecutive month in July of 2019, while markets had forecast prices to remain unchanged. Edmonton (-0.8 percent) reported the largest price decrease in July, with builders offering promotions and cash rebates to stimulate sales. Also, prices fell in Toronto (-0.6 percent) and Vancouver (-0.5 percent), amid unfavourable market conditions and lower negotiated selling prices. On the other hand, prices continued to increase in Montréal (1.6 percent) and Ottawa (0.9 percent). Year-on-year, new house prices went down 0.4 percent, the largest decrease in almost a decade.

2019-08-08
Canada New Home Prices Fall for 2nd Straight Month
Canada's new home prices dropped 0.1 percent for the second consecutive month in June 2019, while markets had forecast prices to remain unchanged. Calgary reported the largest price decrease (-1 percent), with builders tying the decrease to deteriorating market conditions. Meanwhile, the prices of new homes were up in Gatineau (1 percent) and Ottawa (0.6 percent), with the rise primarily attributable to higher construction costs amid weather-related disasters in a context of a skilled labour shortage. Also, new home prices in Hamilton were up 0.7 percent, the largest monthly increase since July 2017 on the back of favourable market conditions and more affordable housing prices in Hamilton relative to Toronto.

2019-07-11
Canada New House Prices Unexpectedly Fall 0.1%
Canada new home prices dropped 0.1% in May of 2019, following three consecutive months of no change and against market expectations of a 0.1 percent rise. The largest declines of new home prices were in Saskatoon (-0.5%) and Victoria (-0.4%), amid deteriorating market conditions. Additionally, new home prices were also down in Edmonton, Kelowna, Toronto and Vancouver (each down 0.3%). In contrast, Charlottetown (+1.0%) had the largest price increase, with the rise attributed to higher construction costs. Year-on-year, new home prices were flat in May, after a 0.1 percent gain in the previous month.


Canada New Housing Price Index
In Canada, New Housing Price Index (NHPI) measures changes over time in the contractors' selling prices of new residential houses, where specifications of each house remain the same between two consecutive periods. .

Canada Housing Last Previous Highest Lowest Unit
Building Permits 8071522.00 8269475.00 9477516.00 57056.00 CAD Thousand [+]
Housing Starts 197.33 204.32 291.60 90.70 Thousand units [+]
Housing Index 103.40 103.20 103.40 37.70 points [+]
Home Ownership Rate 66.30 66.20 67.80 63.90 percent [+]