(Adds details from report)
OTTAWA, May 12 (Reuters) - Canadian new home prices rose in
March, continuing to climb in the major cities of Toronto and
Vancouver where housing markets have been robust, data from
Statistics Canada showed on Thursday.
The 0.2 percent gain topped analysts' expectations of 0.1
percent. Prices have increased for the last 12 consecutive
months.
Prices in Vancouver and the Toronto region rose by 0.4
percent in each city, with builders citing market conditions as
the main reason for the increase. National home prices were up
2.0 percent compared with a year ago, the largest annual
increase since April 2013.
Canada's housing market has been robust in the years since
the financial crisis, partly due to low interest rates. The
sector has become more segmented in the past year, with the
collapse in oil prices hurting commodity-linked regions even as
prices in Toronto and Vancouver accelerated.
Prices in oil-sensitive Calgary were flat in March but down
0.9 percent compared with a year before.
The new housing price index excludes apartments and
condominiums, which the government says are a particular cause
for concern and account for one-third of new housing.
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Graphic - Canada new housing prices http://link.reuters.com/nep62t
Graphic - Canada economic dashboard http://graphics.thomsonreuters.com/15/sc-canada/index.html
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