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Monday, January 25, 2010

Canadian Mortgage Broker News - New house prices rise most in Quebec City

Canadian Mortgage Broker News - New house prices rise most in Quebec City

New house prices rise most in Quebec City


The price of a new house in Canada rose again, according to Statistics Canada, most notably in Quebec City where prices were up 1.1 per cent over last month.

The agency's New Housing Price Index rose 0.3 per cent in October from the month earlier. It is fourth straight month with an increase, although the index shows prices are still down 2.1 per cent from a year earlier. Land prices dropped on the month by 0.1 per cent.

Following Quebec City, Vancouver prices went up by 0.7 per cent . Only two cities saw prices drop on the month - Charlottetown at 0.7 per cent, and Edmonton at 0.3 per cent. Edmonton has performed the worst on the year, with new house prices dropping 10.1 per cent according to the index. In contrast, Quebec has risen 7.5 per cent on the year.