UPDATE 1-Canada new home prices edge up 0.1 percent in September

Thu Nov 12, 2015 8:35am EST
 
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(Adds details of release, background)

OTTAWA Nov 12 (Reuters) - New home prices in Canada edged up by 0.1 percent in September from August, pushed higher by strength in the major regions of Toronto and Vancouver, Statistics Canada said on Thursday.

Market analysts polled by Reuters had expected a 0.2 percent increase. Compared with a year earlier, prices were up by 1.3 percent.

The Toronto and Oshawa region, which accounts for 28.8 percent of the Canadian market, posted a 0.2 percent gain. Builders cited market conditions for what was the eighth consecutive monthly gain in the region.

Prices in Vancouver rose by 0.4 percent, also on market conditions.

Prices increased in nine of the 21 metropolitan areas, were unchanged in eight and fell in four.

The new housing price index excludes apartments and condominiums, which the government says are a particular cause for concern and which account for one-third of new housing.

(Reporting by David Ljunggren; Editing by Lisa Von Ahn)