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New home prices in 'Peg increased fastest in the country
The spike in prices was pinned primarily on higher land development costs and increased material and labour costs. (GENE J. PUSKAR / THE ASSOCIATED PRESS)
WINNIPEG — The cost of buying a new home in Winnipeg increased at the fastest pace in the country in March, Statistics Canada said today.
The agency said Winnipeg’s new housing price index rose 0.7 per cent from February to March. That was more than double the national average increase of 0.3 per cent.
It said the spike in prices was due primarily to higher land development costs and increased material and labour costs. The increase came on the heels of a 0.4 per cent rise in February.
Winnipeg also had the third biggest year-over-year price gain, at 4.2 per cent. Only Toronto/Oshawa and Regina saw bigger March-over-March increases, at 6.2 per cent and 5.7 per cent respectively.
Canada’s year-over-year price increase was 2.6 per cent.
murray.mcneill@freepress.mb.ca
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