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Housing price index in Winnipeg sees jump

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The cost of buying a new home in Winnipeg took its biggest jump in eight months in January, new Statistics Canada data shows.

The agency said Winnipeg’s new housing price index climbed 0.5 per cent from December to January.

It was the biggest monthly increase since May of last year. In the eight months since then, price changes had been fluctuating between zero and 0.2 per cent.

Statistics Canada attributed the increase to local homebuilders moving to new phases of development which have higher land-development costs.

Winnipeg’s increase was the third-largest among the 21 Canadian cities surveyed. The only cities with bigger monthly price hikes were Saskatoon and Calgary, at 1.4 per cent and 1.3 per cent respectively.

The year-over-year price hike for Winnipeg was 2.5 per cent — fifth-highest in the country. Calgary had far and away the biggest 12-month gain, at 7.0 per cent.

Nationally, the cost of buying a new home rose by 0.3 per cent from December to January, and by 1.5 per cent from January of last year.

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