May 9, 2019 / 12:51 PM / 2 months ago

Canada new housing prices unchanged in March for seventh month in eight

FILE PHOTO: A construction worker works on building a new townhouse in Calgary, Alberta, April 7, 2015. REUTERS/Todd Korol

OTTAWA (Reuters) - New housing prices in Canada were unchanged in March for the seventh month out of eight, with little or no growth in the major markets of Toronto and Vancouver, Statistics Canada said on Thursday.

Federal and provincial authorities have taken a number of measures over the last two years to clamp down on overheated housing markets, especially in big cities. Interest rates also rose five times between July 2017 and October 2018.

New home prices were unchanged in Toronto - which accounts for 29 percent of the entire market - for the second month in a row, while they edged up 0.1 percent in Vancouver.

The new housing price index excludes apartments and condominiums, which account for one-third of new housing.

Reporting by David Ljunggren; Editing by Bernadette Baum

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