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UPDATE 1-Canada new home prices rise in August, pushed up by Ontario

Published 2015-10-08, 08:44 a/m
© Reuters. UPDATE 1-Canada new home prices rise in August, pushed up by Ontario

(Adds details of release, background)
OTTAWA, Oct 8 (Reuters) - New home prices in Canada rose by
0.3 percent in August from July on continued strength in
Ontario, the most populous of the 10 provinces, 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 entire Canadian market, posted a 0.6 percent
gain. Builders cited market conditions for what was the seventh
consecutive monthly gain in the region.
Also in Ontario, the city of Hamilton recorded a 0.8 percent
gain, also due to market conditions, while higher material and
labor costs pushed up new home prices in St. Catharines-Niagara
by 0.7 percent.
Prices in Vancouver, another hot market, edged up by 0.1
percent. The Alberta city of Calgary, which is sensitive to
Canada's weakened energy sector, showed no change from July.
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.

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