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New house prices rose 0.2 per cent in December: StatsCan

For sale signs stand in front of a condominium Tuesday, September 27, 2011 in Montreal. THE CANADIAN PRESS/Ryan Remiorz

OTTAWA - Statistics Canada says its new housing price index rose 0.2 per cent in December, following a 0.1 per cent increase in November.

The agency says the combined metropolitan region of Toronto and Oshawa, as well as the Calgary region, were the top contributors to the advance.

It says market conditions were the primary drivers for higher prices in Toronto and Oshawa, while increased material and labour costs contributed to the increase in Calgary.

The largest monthly price advances in December came in Winnipeg and St. Catharines–Niagara, with prices up 0.8 per cent in both regions.

The Winnipeg increase was largely the result of higher land development costs, while builders in St. Catharines–Niagara reported higher list prices for new phases of development.

Monthly prices declined 0.9 per cent in Charlottetown, as a result of lower negotiated selling prices.


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