Uc tower condos. The price of new housing continues to rise. Toronto, Sept. 21-New home prices rose 0.7% month-on-month in August 2021, continuing the upward trend since May last year, according to the new housing price index released by Statistics Canada on September 21.
New home prices rose in 13 of the 27 metropolitan areas across the country that were included in the survey.
Among them, the price of new homes in London, Ontario ranked first with an increase of 3.9%. There have been signs of supply shortages in the local housing market since 2017. The epidemic of COVID-19 has aggravated the situation. New home prices in Ottawa, the capital, rose 2.9% month-on-month. Montreal, Toronto and Vancouver rose 1.3%, 0.8% and 0.5%, respectively.
But new home prices in Edmonton and Saskatoon fell slightly from the previous month. House prices are flat in the other 12 regions.
Although the month-on-month increase in house prices has slowed in recent months, new home prices nationwide rose 12.2% in August compared with the same period a year earlier. Ontario takes the lead in many places. Of these, Ottawa was the highest, with a year-on-year increase of 27.5%. The Kitchener-Cambridge-Waterloo area rose 26.9%, while Windsor rose 22.7%.
The eastern province of New Brunswick recorded a net population growth of 2368 in the first quarter of this year, nearly 51 per cent of which came from other parts of the country. This is the largest increase in inter-provincial migration in the province since 1983. The Bureau of Statistics said this could put more upward pressure on house prices in the province.