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OTTAWA, Jan 12 (Reuters) - Canadian new housing prices rose 0.2 percent in November from October amid price increases across much of Ontario, the most populous of the country’s 10 provinces, Statistics Canada said on Thursday.
Analysts polled by Reuters had predicted a 0.3 percent advance. Overall, prices climbed in 10 of the survey’s 21 markets, fell in four and were unchanged in seven.
The Ontario cities of London and Hamilton saw the largest gains - 1.3 percent and 0.7 percent respectively - with builders citing better market conditions and higher construction costs.
Prices in the combined Toronto-Oshawa region, which accounts for 27.92 percent of the Canadian market, inched up 0.4 percent.
In Vancouver, where a hot market over recent years has fueled fears of a housing bubble, prices fell 0.3 percent, the first drop since January 2015. Lower negotiated selling prices and new incentives to stimulate sales were the main reasons for the retreat, said Statscan.
The new housing price index excludes apartments and condominiums, which the federal government says are a particular cause for concern and which account for one-third of new housing.
Reporting by David Ljunggren; Editing by Bernadette Baum