Canada new home prices edge up 0.1 percent in August, 1.8 percent on year

Thu Oct 10, 2013 8:37am EDT
 
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(Reuters) - New housing prices in Canada rose 0.1 percent in August from the previous month and were a tame 1.8 percent higher than a year earlier, Statistics Canada said on Thursday. However, the index excludes condominiums, where the property market is hotter.

Calgary was the top contributor to the national increase, with prices rising 0.6 percent in August as a result of market conditions, higher material and labor costs as well as a shortage of developed land.

(Reporting by Alex Paterson; Editing by Randall Palmer)

 
The light from the sunset reflects off apartment blocks and office buildings in the city of Burnaby in this view from Cypress Mountain in West Vancouver, British Columbia August 20, 2013. REUTERS/Andy Clark