New home prices were up just 0.2% in June following increases of 0.7% in May and 0.8% in April, Statistics Canada reported Thursday.
The nationwide gain was moderated by southern Ontario which paused after recent gains, while Ottawa-Gatineau was one of the drivers of nationwide prices (0.9%) along with Vancouver (1.5%) with builders citing improved market conditions.
There was no change in new home prices in Toronto in June, along with other neighbouring cities, except St. Catharines-Niagara and Kitchener-Cambridge-Waterloo which both saw gains of 0.1%.
The slowdown in southern Ontario follows the introduction of the Fair Housing Plan in April which includes the 15% non-resident speculation tax.
Overall, prices were up in 8 CMAs, down in 5 and unchanged in 14.
On a 12-month basis, national new home prices were up 3.9%, led by an 8.5% rise in Toronto and gains for Kitchener–Cambridge–Waterloo (+6.5%), London (+6.4%), Vancouver (+6.2%) and St. Catharines–Niagara (+6.0%).
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- Jackie Goodlet, Broker
- GTA, Ontario, Canada
- Experienced Realtor (2012, 2013, 2014 And 2015 Recipient Of The Prestigious RE/MAX PLATINUM CLUB AWARD For Sales Greater Than 10 Million Annually) in Durham Region And The GTA, #1 Team 2014 & 2015 Whitby Office. "THE JACKIE GOODLET TEAM" has extensive knowledge which includes selling resale homes, new build homes & condo's since 1989. With over 25 years experience and exceptional negotiating skills we are confident we can save you time and money on all your real estate endeavours. We look forward to hearing from you soon!