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City's new home prices jump

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Winnipeggers were hit with one of the biggest increases in new-home prices in the country in December, Statistics Canada said today.

The agency said Winnipeg’s new housing price index was up 0.8 per cent from November to December and 5.0 per cent from December 2011.

The year-over-year increase was the largest among the 21 metropolitan regions monitored by the agency. And Winnipeg and St. Catharines-Niagara tied for the biggest November-to-December price hike.

The agency said Winnipeg’s month-to-month gain was also the city’s largest since September 2011. It said local homebuilders blamed it mainly on higher land development costs.

Nationally, Canada’s new housing price index was up 0.2 per cent from November to December, and 2.3 per cent from a year earlier.

murray.mcneill@freepress.mb.ca

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Updated on Thursday, February 7, 2013 at 11:55 AM CST: adds photo

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