Canada new housing prices in Canada increased 0.2 percent month-over-month in December 2019, following a 0.1 percent drop in the previous month while markets had expected no change. It was the largest monthly rise in housing prices for a December month since 2009. Prices for new houses increased the most in Ottawa (0.6 percent), with builders reporting market conditions and construction costs as the primary reasons for the gain. Higher demand for housing, as well as low inventory levels, continued to push prices up in the region. In contrast, prices were down in Greater Sudbury (-0.3 percent) and Gatineau (-0.2 percent), mainly due to lower negotiated selling prices. Year-on-year, new home prices went up 0.1 percent, the first annual increase since April 2019, after decreasing 0.1 percent in November.
Housing Index in Canada averaged 67.81 points from 1981 until 2019, reaching an all time high of 103.40 points in December of 2019 and a record low of 37.70 points in May of 1983. This page provides - Canada New Housing Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Statistics Canada
Housing Index in Canada is expected to be 103.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Housing Index in Canada to stand at 105.00 in 12 months time. In the long-term, the Canada New Housing Price Index is projected to trend around 106.00 points in 2020, according to our econometric models.