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New home costs in Winnipeg continue to rise

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New-home buyers in Winnipeg got a bit of a break in February.

The cost of buying a new home edged up a mere one-tenth of one per cent from January to February, according to new figures released today by Statistics Canada.

That followed monthly increases of 0.8 per cent in December and 0.9 per cent in January.

But, despite the tiny month-over-month increase, Winnipeg still had the highest 12-month price hike in the country at 5.5 per cent. It was the third consecutive month that it held that dubious distinction, although Statistics Canada noted the pace of the annual increase slowed a bit from the previous month when it was 5.9 per cent.

The agency said local builders continue to blame the price escalation on the rising cost of developed land in the Winnipeg area.

murray.mcneill@freepress.mb.ca

 

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